Nassar held cooperation talks with counterparts from Russia, Tatarstan and Hungary, on the sidelines of the SPIEF.

St. Petersburg- June 7, 2019

Minister of Trade and Industry Amr Nassar flew to Russia yesterday, to take part in the 23rd St Petersburg International Economic Forum (SPIEF), held on 6-8 where a large number of prominent political and economic figures, as well as heads of states and representatives of major companies are brought together.

“The three-day event is an important annual platform, in which leaders of global economic powers sit down to discuss trade challenges facing Russia and the world,” Nassar said.

The minister also met with Russian counterpart Denis Manturov, on the sidelines of the SPIEF, where they discussed preparations for Cairo’s hosting of the 12th Egyptian-Russian Joint Committee next October and negotiations on the Egypt-Eurasian FTA.

The meeting also focused on the latest developments of the Russian Industrial Zone being constructed in the SCzone in Egypt, where 55 Russian companies are willing to invest, as Manturov stated.

According to official data, the project is estimated to attract investments worth $7 billion and create 150,000 jobs; Russian investments in the RIZ infrastructure are worth $190 million.

Nassar also held a series of bilateral meetings, including with Tatarstan Industry and Trade Minister Albert A. Karimov and Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó, to discuss potential areas of cooperation.

Source: Ministry of Trade and Industry of Egypt