Use Egypt As A Gateway To Africa, Says Egyptian Foreign Minister
Egyptian Foreign Minister Sameh Hassan Shoukry on Wednesday urged the business owners in India to explore Egypt as a destination for their businesses. In his address at the India-Egypt Business forum, he urged Indian industries to take advantage of Egypt’s geographical location as a gateway to the African market.
“Opportunities are merging through the deepening of Egypt-India bilateral economic cooperation.”
He added that the business environment has never been as conducive as now. New Free Trade Zones have come up, there are legal guarantees for investment and the physical and social infrastructure is strong.
Speaking at the forum, V. S. Sahney, Chairman, Sun Group expressed hope that Indian companies will participate in the Suez Canal Economic Zone, in sectors such as petrochemicals, energy, agriculture, healthcare, education, skills and IT. There was also scope for cooperation in ICT, agriculture, biotechnology, renewable and non-conventional energy and skill development.
Sameh is in India to participate in the seventh India-Egypt joint committee on bilateral relations.
During his visit, he will also meet Indian PM Narendra Modi and will deliver a message from Egyptian President Abdel Sisi concerning ways to boost bilateral relations.
Sameh who is leading a delegation of Egyptian businessmen to India on his visit will also meet his Indian counterpart Sushma Swaraj.
Egypt is keen to develop cooperation with India in all fields within the framework of historical relations between the two countries, said Abu Zeid, spokesperson of Ministry of Foreign Affairs of Egypt.
According to some diplomatic sources, this visit is intended to pave a way for Indian PM Narendra Modi to visit Egypt in the coming time.
India is Egypt’s 11th largest trade partner, 10th largest export destination and also 10th largest import source for Egypt.
Bilateral trade between the two countries has exceeded 3 billion in the last financial year.
