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25 Mar, 2008 11:52

Russia & Egypt sign nuclear deal

A nuclear energy deal has been signed which may pave the way for Russia to build Egypt’s first nuclear power station. Russian President Vladimir Putin and his Egyptian counterpart Hosni Mubarak made the announcement in Moscow. Earlier Mubarak met presiden

Both sides noted the significance of the nuclear deal. It allows Russia to join the tender process – along with China, Kazakhstan and others – for the Egyptian power station.

Russian businesses will also play a greater role in Egypt’s energy sector in the future.

“In October last year, Egypt declared that it will develop a peaceful nuclear programme for energy needs. For this, we are planning to use a variety of sources. This programme will be undertaken with strict abidance with international law and obligations. The document signed between two nations reflects our mutual dedication and trust,” said Mubarak.

Putin noted that they have discussed with the Egyptian President improving traditional trade and economic ties between the two countries as well as developing new spheres including high technology. Concerning the deal signed, he said that it “opens up new horizons for bilateral relations”.

“I think our countries have good perspectives for further development and co-operation in foreign policy as well as in business areas,” Russia’s President added.

Putin also expressed confidence that relations with Egypt will only grow under the new president, Dmitry Medvedev.

Hosni Mubarak even found room for humour, saying that Putin and Medvedev are so alike, in appearance and political views, that he wasn’t quite sure who was who.

However, Putin replied that despite the similarities Medvedev will lead his own distinctive foreign policy.