Egyptian President Abdel Fattah el Sisi started a three-day visit to Moscow to meet with his counterpart, Russian President Vladimir Putin, to foster bilateral relations on Wednesday.
Both presidents agreed to advance economic cooperation, solving conflicts and the political situation in the region.
Following negotiations at the conference, Putin told reporters that it may be possible to have a cooperation in the Eurasian Economic Union with Egypt.
"Among concrete steps to give additional stimulus to the economy is a possible creation of a free trade zone between Egypt and the Eurasian Economic Union (EEU)," Putin told to reporters, Al Jazeera reported.
The EEU, whose members include Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, is an economic cooperation unions that aims to create economic free trade zones, as well as the free transit of goods and services and coordinate policies in economic sectors of the region.
Putin also stated that they will participate in the construction of the Dabaa nuclear power plant in northern Egypt.
Previously, ROSATOM, Russian state’s atomic energy corporation, signed a $5 billion letter of intent with the Egyptian Electricity to build four nuclear power plants in Dabaa.
Russia stimulated relations between Asia, Africa and South America, ex-Soviet states and China after being hit by economic sanctions by Western countries due to its role in the Ukraine conflict.
This is Sisi's third visit to Moscow since he took power following a military coup in July 2013 against the first democratically elected president of Egypt, Mohammed Morsi. Putin has been the first leader of a major power to visit Egypt since Sisi, became president in 2014.
"Egyptian exporters successfully use the opportunities offered by our market which have additionally opened after certain restrictive measures have been adopted in response to EU sanctions," Putin said.
Putin and Sisi support Assad against ISIS
During Sisi’s visit to Moscow on Wednesday, both countries agreed on their support for a new coalition to fight ISIS that includes Syrian regime leader Bashar al-Assad as one of its partners.
“We stressed the importance of forming a large counter-terrorist front of key regional players, which includes Syria. We share the opinion of the necessity to increase counter-terrorism against IS [ISIS],” Putin said, adding "[We] have underscored the vital importance of setting a counter-terrorism front to include key international players of the region including Syria."