Monday 04/Aug/2025 – 01:16 PM
The team, Osama Rabie, head of the Suez Canal Authority, stated that the authority hopes to conclude a partnership agreement with Russia during the coming period, according to his statements to RIA Novosti.
In response to a question about the partnership and cooperation with Russia, the team, Osama Rabie, said: Currently, Russia does not have a partnership with the Suez Canal, but rather a partnership with the economic zone of the Suez Canal, east of Port Said, and we hope to conclude this agreement.
Osama Rabie: The Suez Canal is not politicized
The team, Osama Rabie, pointed out that the waterway management deals with all countries on an equal footing, stressing that the Suez Canal is not politicized.
In May 2018, Russia and Egypt signed an international governmental agreement on the establishment of a Russian industrial zone in the Suez Canal region. The area is supposed to be divided into two parts: in the Ain Sukhna area, near the entrance to the Suez Canal from the Red Sea, and in the eastern part of Port Said near the Mediterranean coast.
In March 2023, an additional agreement was signed on the Russian industrial zone, allowing Russian companies residing in the sale of their products not only in third countries, as it was originally planned, but also in the Egyptian market. In October 2023, the Ministry of Industry and Trade of the Russian Federation announced that the project is being implemented in accordance with the plan, and the construction of the first facilities is scheduled to start in 2024, and by 2026, a total of 9.5 billion rubles will be dedicated to support the Russian industrial zone.
