Executive Intelligence Review


Russia’s Putin and Egypt’s el-Sisi Sign Strategic Cooperation Treaty in Sochi

Oct. 18 (EIRNS)— Russian President Vladimir Putin and Egyptian President Abdel Fattah el-Sisi signed an agreement to establish a comprehensive cooperation and strategic partnership during their talks in Sochi on Oct. 17, TASS reported yesterday. Commenting on the agreement, Russian Prime Minister Dmitry Medvedev, who had a meeting with President el-Sisi the day before, said it “will mark a new stage in development of Russian-Egyptian relations, which are friendly regardless of it.”

Energy cooperation was also an important issue in the presidents’ discussion, especially concerning moving forward the planned construction of a Russian-built nuclear power plant in Egypt. “We discussed in detail issues of bilateral interaction in the energy sector,” Putin said after talks.

“The key joint project in this sphere is construction of a nuclear power plant of Russian design in Egypt by Rosatom. Preparatory activities started on the site. Contracts with Egyptian companies intended to be proactively engaged as subcontractors are planned to be signed by the year-end,”

he said. “Positive experience of cooperation has also been accumulated in the hydrocarbon resources development sphere,” he said. “Regular supplies of Russian oil products and LNG to the Egyptian market take place.”

The two also discussed the establishment of a free trade zone between Egypt and Eurasian Economic Union (EAEU). “Our country supports Egypt’s aspiration to conclude an agreement on a free trade zone with the Eurasian Economic Union,” Putin said. The EAEU comprises Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.