Russia starts design work on Priboy advanced helicopter carrierMilitary & Defense June 28, 13:29
Russian hi-tech firm to unveil concept of new corvette armed with 24 cruise missilesMilitary & Defense June 28, 13:21
Ukraine’s Internet association chief rules out Russia’s role in Petya ransomware attackWorld June 28, 13:03
Press review: Russia's 'Korean de-escalation' roadmap and India's balancing actPress Review June 28, 13:00
Defense Ministry refutes BBC reports on alleged capture of Russian serviceman in UkraineRussian Politics & Diplomacy June 28, 12:50
Pilot model of advanced marine engine to be built in near futureMilitary & Defense June 28, 12:41
Moscow alarmed at US remarks that Damascus may be ‘preparing chemical attack’Russian Politics & Diplomacy June 28, 12:37
Poll shows Russians see US and Ukraine as main sources of military threatSociety & Culture June 28, 11:52
Putin says St. Petersburg international naval show helps promote Russian hardwareMilitary & Defense June 28, 11:47
MOSCOW, February 5. /TASS/. The workgroup set to create a free-trade zone between the Eurasian Economic Union (EEU) and Egypt will start working this spring, Russian presidential aide Yuri Ushakov said on Thursday.
The turnover between the two states [Russia and Egypt — TASS] is actively diversified and boosted right now, Ushakov said. "Probably, an agreement on creating a free-trade zone between Egypt and member-countries of the Eurasian Economic Union will trigger it. A decision has been made to create a research group, which will study this process, and its first meeting is planned for March-April this year in Cairo," presidential aide said.
The turnover between Russia and Egypt reached $4.6 billion in the first eleven months of 2014, which was an 80% increase year-on-year. Ushakov said that such significant growth was backed by Russian energy and grain exports to Egypt. Presidential aid added that Egypt is the first-biggest importer of Russian wheat, which meets around 40% of the country’s demand. Also, there’s been a significant rise in imports of Egypt’s agricultural produce to Russia.
On the other hand, the amount of mutual capital investment is not big yet, Ushakov said. In the first half of 2014, Egypt invested $10 million into Russia, while Russia invested only $2 million in Egypt.
Eurasian Economic Union (EEU) is an international organization for regional economic integration. The treaty establishing the union was formally signed by three states, which were part of the former Soviet Union: Belarus, Kazakhstan, and Russia. Agreements to enlarge the EEU to Armenia and Kyrgyzstan were signed in October and December 2014, respectively.