Egypt, India discuss expanding trade, industrial ties, eye joint business chamber

Egypt’s Foreign Minister Badr Abdel-Atty met with Harsha Agarwal, president of the Federation of Indian Chambers of Commerce and Industry (FICCI), in New Delhi on Thursday to discuss ways to deepen economic and industrial cooperation between the two countries.

Abdel-Atty said Indian investments in Egypt currently total around $4 billion, with about 55 Indian companies operating in sectors including food security, information technology, healthcare, water desalination, renewable energy, textiles, automotive components, and chemicals.

He said Egypt aims to position itself as a regional hub for Indian industry and trade, leveraging its wide network of free trade agreements to give investors access to Arab, African, European, and Latin American markets.

Abdel-Atty highlighted government efforts to improve the investment climate through greater transparency, simplified procedures, and stronger private-sector participation. Existing bilateral deals on investment protection and double taxation avoidance, he added, give Indian firms a competitive edge in Egypt.

The two sides also discussed cooperation under the Egypt-India Strategic Partnership Agreement, particularly in trade of key commodities to bolster food security and ease global supply pressures. They agreed to work toward establishing a joint Egypt-India Chamber of Commerce to enhance trade and industrial collaboration.

Attribution: Amwal Al Ghad Englsih

Subediting: Y.Yasser