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Egypt mulls free trade zone with Russia’s customs union


The Arab country hopes to expand exports wit hRussia

March 26, 2014 3:43 by

Egypt is considering the creation of a free trade zone with the customs union of RussiaBelarus and Kazakhstan, Egyptian industry and investment minister Mounir Fakhry Abdel Nour said on Wednesday.

“You’ve expressed your wish to expand exports, primarily of wheat… and we want to develop exports of vegetables and fruit. It would help widen our cooperation. An agreement on free trade with the customs union could contribute to it,” he told a meeting of the Russian-Egyptian commission for trade development.

Egypt is already the largest importer of Russian wheat, covering one fifth of the country’s exports of this commodity so far in 2013/14. It bought 2.6 million tonnes of Russian wheat between July 1 and the end of February.

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