The ancient Greek city of Naukratis was established somewhere in the mid to late 7th century B.C. in the Egyptian western delta. The city became a prominent trading port during the Greco-Roman period before eventually being replaced by Alexandria after the conquest of Alexander the great.
This is an article on the city, its founding, its history, purpose and excavation, first by the father of archaeology, Flinders Petrie in the 1880's. It has been many years since I have read Professor Petrie's report on his excavations there, but remember it well worth a read.