YEKATERINBURG, July 9. /TASS/. Russia and Egypt have signed a memorandum of intention to organize a global industrial and technological trade fair and a forum at the Cairo-based Egypt International Exhibition Center (EIEC) in October 2019, a TASS correspondent reported from the signing ceremony on Monday.
Russia will act as a partner country of the Arabia-2019 industrial and technological exhibition and forum in Cairo. Russia’s Formika Group will be the exhibition’s organizer.
The memorandum envisages joint organization of the Big Industrial Week Arabia-2019 world industrial and technology trade fair in Cairo on October 10-13, 2019. "The Big Industrial Week Arabia-2019 will be the first foreign international exhibition and forum organized by the Russian side," Formika said earlier.
More than 100 international companies are expected to take part in the event that will focus on North and Central Africa and the Middle East.
Earlier, on May 23, Russia and Egypt signed an agreement to set up a Russian industrial zone in Egypt, which guarantees tax stability for Russian residents of that zone. The agreement was signed for a term of 50 years, with automatic prolongation if neither of the signatories opts to terminate it.
The industrial zone will be located east of Port Said and will be part of the Suez Canal Economic Zone.