Minister of Industry: Trade agreement with US is over
Mounir Fakhry Abdel Nour - YOUM7 (Archive)

CAIRO: Russia is keen to cooperate with Egypt in different fields, while the potential U.S. Free Trade Zone agreement with Egypt is over and will not be discussed furthermore, Minister of Industry Mounir Fakhry Abdel Nour said Saturday during an interview with CBC channel.

Abdel Nour added that his visit to Russia last week yielded important results, as both sides reached a common political ground, where Russian President Vladimir Putin had instructions to cooperate with Egypt.

Russia has agreed to export Liquefied Natural Gas (LNG) to Egypt, as well as funding Egypt’s wheat exports, Abdel Nour noted.

Abdel Nour further stated that “Egypt welcomes Russian oil and gas companies’ participation in the exploration of oil fields in the country,” Youm7 reported.

“Two projects are rather promising, Russian liquefied natural gas exports and Rosatom State Corporation’s participation in building a nuclear power plant in Egypt,” Russian news agency Itar-Tass quoted Russian Agriculture Minister Nikolai Fyodorov as saying.

On a different note, Abdel Nour said that exchange stock market losses, which reached 15 billion EGP, is not a conspiracy, adding that stock transitions are highly affected by the media and press.

Additional reporting by Samir Hosni.

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