OREANDA-NEWS Russian automaker AvtoVAZ remains interested in the market of Egypt and neighboring countries, and is also exploring the local market and production opportunities, the automaker's press service told RIA Novosti.

"As before, we are interested in the market of Egypt and neighboring countries and are exploring the market and local industrial opportunities there," the company said. AvtoVAZ was asked about the possibility of producing Lada cars in the Russian industrial zone in Egypt.

A Russian delegation led by Deputy Prime Minister Alexei Overchuk arrived in Egypt on September 14. During the visit, the prospects for the development of the Russian industrial zone in the country were discussed. So, one of the industries that will be represented in this industrial zone, according to Overchuk, will be car manufacturing.

The land plot of the Russian Industrial Zone (RPZ) with an area of 50 hectares is located in the northeastern part of the Suez Canal economic zone near the city of Ain Sokhna. The work on the creation of the RPZ is carried out within the framework of the national project of the Russian Federation "International Cooperation and Export". The main goal is to create an industrial infrastructure for Russian export–oriented companies, increase the turnover of high-tech products with the Arab Republic of Egypt and ensure the supply of Russian products to the markets of third countries that have trade agreements with Egypt.

For residents of the Russian Industrial Zone, there is a full exemption from duties on all components imported for the production of residents, provided that the final products are intended for export. Also, residency in the Russian Federation provides for zero tax on land and real estate.