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Egypt, Russia Sign Mou to Develop Infrastructure of Grains, Dairy Industry
Source: 5/24/2018

Egypt and Russia signed a memo of understanding to develop the infrastructure of grains, bakeries and the dairy industry, according to a statement by the Trade and Industry Ministry .

The memo was signed by Egypt's Trade and Industry Minister Tarek Qabil and his Russian counterpart Denis Manturov. The three-year memo, and renewable for similar periods, mirrors distinguished relations binding Egypt and Russia in the trade, industrial and investment domains, Qabil said.

Egypt's ministries of military production as well as supply and internal trade will partner with Russia's trade and industry ministry and exports center in putting the memo into effect.

The memo aims at luring Russian companies to upgrade the existing Egyptian utilities and set up new ones for grains, bakeries and the dairy industry through setting up joint projects to manufacture equipment used in these industries by the use of local components.

The memo also aims at enhancing Egyptian-Russian partnership in setting up similar projects in some Middle East and African countries.

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