YEKATERINBURG (Russia) (Sputnik) – Russian Trade Representative to Egypt Fedor Lukashin said yet in May, 2016 that Russia and Egypt had been mulling the possibility of creating a grain hub in the Egyptian port of Damietta and in August, 2016, the sides agreed on Russian participation in grain infrastructure construction in Egypt.
"We are considering the options in the other countries of the Gulf Cooperation Council [GCC], where it will be possible to construct, using local investment in the local currency among the others, to optimize the expenses and thus make the colleagues even more interested. We are yet more active with regard to Bahrain," Manturov told reporters, recalling the Russia's state development bank Vnesheconombank’s (VEB) interest in the projects.
The GCC is an economic and military alliance of the Middle East countries, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, aimed at fostering cooperation among the member states.
