From RT

Egypt and the countries of the Customs Union are looking into creating a free trade zone, Russian President Vladimir Putin said after meeting with his Egyptian counterpart Abdel Fattah al-Sisi at the Black Sea city of Sochi.

“An important agreement was reached to establish cooperation between Egypt and the Customs Union [of Russia, Belarus and Kazakhstan],” said the Russian President. “And now we are looking at a possibility of creating a free trade zone.”

He noted that this subject had been discussed at a meeting of the council of the Common Economic Space on July 7.

The two presidents also agreed upon the creation of a Russian industrial zone in Egypt, which will be part of a new Suez Canal project.

“Our talks have opened great prospects in this area. I hope that the creation of the Russian industrial zone in Egypt will become a component that will supplement the new Suez Canal project, which Egypt presented last week,” Sisi said.

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