Egyptian-Indian Trade Exchange to hit $8 bln by 2016: Minister

Ministry of Trade and Industry aims to boost the volume of trade exchange with India to hit US$ 8 billion by 2016, Minister Mounir Fakhry Abdel Nour said Tuesday.

The trade exchange volume between Egypt and India has recorded US$ 5.5 billion in 2014, the minister stated.

The minister made these remarks during his meeting with India’s new ambassador to Cairo Sanjay Bhattacharyya to discuss bilateral relations and the future of the economic cooperation in different sectors.

He pointed out that Egypt owns great opportunity to increase its exports to India especially of agricultural crops like fruits and vegetables.

The government cares to support Indian investments in Egypt as the ministry is aiming to enhance Indian projects to overcome the problems and obstacles that they face, the minister said.

Moreover, Abdel Nour clarified that the Egyptian side of the joint business council is currently being restructured to cope with two states’ wills to enhance the mutual economic relations.