Egypt, India seek to boost trade, investment ties

Egypt’s Minister of Investment and Foreign Trade Hassan El Khatib met on Tuesday with India’s Minister of Commerce and Industry Piyush Goyal in New Delhi to discuss strengthening economic ties and expanding bilateral trade and investment.

El Khatib emphasised Egypt’s commitment to attracting more Indian investment in key sectors such as renewable energy, chemicals, automotive manufacturing, pharmaceuticals, textiles, and ICT, the Egyptian Cabinet reported.

He highlighted upcoming Indian investments, including two major green hydrogen and ammonia projects worth $12 billion.

During the talks, El Khatib extended an official invitation to Goyal to visit Egypt in 2025 to explore further cooperation opportunities.

Goyal reaffirmed India’s commitment to enhancing economic collaboration with Egypt, recognising its strategic importance in the Middle East and Africa. He also pledged support for easing the entry of Egyptian agricultural exports into the Indian market.

Both ministers agreed to increase bilateral trade from $4.2 billion in 2024 to $12 billion over the next five years, as outlined in the Joint Trade Committee meetings held in September 2024.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama