{"id":6157,"date":"2015-02-10T09:57:04","date_gmt":"2015-02-10T16:57:04","guid":{"rendered":"https:\/\/myfutureamerica.org\/?p=6157"},"modified":"2015-02-10T09:57:04","modified_gmt":"2015-02-10T16:57:04","slug":"egypt-to-join-russia-led-eurasian-free-trade-zone","status":"publish","type":"post","link":"https:\/\/myfutureamerica.org\/?p=6157","title":{"rendered":"Egypt to join Russia-led Eurasian free trade zone"},"content":{"rendered":"

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Published time: February 10, 2015 13:38
\nEdited time: February 10, 2015 15:55 <\/span><\/p>\n
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Russia’s President Vladimir Putin (L) and Egypt’s President Abdel Fattah al-Sisi<\/p>\n<\/div>\n

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5.7K<\/span>994<\/span>15<\/span><\/div>\n<\/div>\n
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Egypt<\/a>, Energy<\/a>, Finance<\/a>, Russia and the global economy<\/a>, Trade<\/a><\/div>\n<\/div>\n

Egypt has established a free trade zone with the Russian-led Eurasian Economic Union, which includes Russia, Armenia, Belarus, and Kazakhstan, president Sisi of Egypt announced at a joint news conference with Russian President Vladimir Putin.<\/p>\n

\u201cWe have reached an agreement to establish a free trade zone between Egypt and the Eurasian Economic Union,”<\/em> Egyptian President Abdel al-Sisi said.<\/p>\n

There was more than $4.5 billion of trade between Russia and Egypt in 2014, a more than 80 percent increase on the year before, said President Putin.<\/p>\n

Now it will be easier for Egyptian products to reach the markets of Russia, Belarus, Kazakhstan, and Armenia, and vice-versa.<\/p>\n

READ MORE: Russia, Belarus, Kazakhstan sign \u2018epoch’ Eurasian Economic Union<\/a><\/p>\n

The possibility of setting up a free trade zone with Europe was discussed by Russia, Belarus and Kazakhstan last summer at a conference in Sochi.<\/p>\n

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The two countries also agreed to create a Russian industrial zone near the Suez Canal. Russian businesses have stakes in more than 400 Egyptian companies.<\/p>\n

Russia and Egypt will work jointly on new investment projects, especially in transport, manufacturing, and energy \u2013 both oil and nuclear.<\/p>\n

Lukoil, Russia\u2019s second largest oil company produces more than 16 percent of the oil coming from Egypt.<\/p>\n

Russia will help Egypt develop nuclear power plants and train personnel to create a new nuclear power industry in the country.<\/p>\n

READ MORE: Trade, tourism & dumping dollars: Putin building bridges in Egypt<\/a><\/p>\n

Egypt also wants to boost profits from Russian tourists. The country\u2019s tourist sector suffered greatly due to a downgrade in security in the wake of the ouster of President Hosni Mubarak in 2011 and is currently struggling to win back foreign visitors.<\/p>\n

In 2014, more than 3 million Russians traveled to Egypt for tourism despite the worsening economic situation in Russia.<\/p>\n","protected":false},"excerpt":{"rendered":"

Published time: February 10, 2015 13:38 Edited time: February 10, 2015 15:55 Get short URL Russia’s President Vladimir Putin (L) and Egypt’s President Abdel Fattah al-Sisi 5.7K99415 Tags Egypt, Energy, Finance, Russia and the global economy, Trade Egypt has established a free trade zone with the Russian-led Eurasian Economic Union, which includes Russia, Armenia, Belarus, […]<\/p>\n","protected":false},"author":1,"featured_media":6158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[98,104],"tags":[494,140],"class_list":["post-6157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured","tag-egypt","tag-russia-2"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/myfutureamerica.org\/wp-content\/uploads\/2015\/02\/egypt-russia-free-trade.si_.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2SfUR-1Bj","_links":{"self":[{"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/posts\/6157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6157"}],"version-history":[{"count":1,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/posts\/6157\/revisions"}],"predecessor-version":[{"id":6159,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/posts\/6157\/revisions\/6159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=\/wp\/v2\/media\/6158"}],"wp:attachment":[{"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myfutureamerica.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}