Egypt welcomes back Russian flights on 1st October    Egypt launches 200 Years of Continuing Science tourism campaign    Egypt, UAE partner on sustainable waste management in Sharm el-Sheikh ahead of COP27    Saudi King appoints Crown Prince Mohammed bin Salman as Prime Minister    QNB Group names TikToker Khaby Lame official FIFA World Cup Qatar 2022 brand ambassador    United Tobacco begins manufacturing in Egypt    Tawasol, LimeVest acquire more than 70% of Egypt's Alexandria Medical Services    Oil mixed on hurricane Ian output, dollar weighs    Egypt receives second monkeypox case    Egypt ready to build up international centre for storage, supply and trade grains – minister    Egypt launches automated vaccine cold storage at VACSERA    Three possible scenarios as Egypt's central bank governor resigns – MP    Adele is living a love story, wants to be a homemaker    In Photos: Egypt swears in 13 new ministers after major Cabinet reshuffle    Egypt's Sisi names 13 ministers in Cabinet reshuffle    Spain: prosecutor seeks 8 years sentence for Shakira over tax evasion    Egypt: Alamein Art Festival kicks off a collection of recycled installations    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt hopes to increase volume of Egyptian-Indian trade to $8bn
Published in Daily News Egypt on 23 - 12 - 2013

Minister of Foreign Trade and Industry Mounir Fakhry Abdel Nour, during his meeting with Ashok Kantha, Indian Vice Secretary for the foreign ministry for Middle East and North Africa, stated that Egypt aims to increase the volume of trade between the two counties to reach $8bn by 2016.
Abdel Nour pointed to the importance of increasing the cooperation especially in the fields of trade, investments and the development of Small and Medium Enterprises (SMEs). The minister added that it would be beneficial to gain from the Indian knowledge and expertise in the areas of information technology and chemicals.
The minister added that the Egyptian-Indian trade volume registered $2.3bn Q1 2013 compared to $5.5bn in 2012. A total of 50 Indian companies in the areas of textile, pharmaceuticals and information technology currently operate in Egypt.
During the meeting, Abdel Nour stated that the Egyptian government is keen on boosting bilateral ties between Egypt and India and supporting the Indian projects in Egypt.
In 2013, the bilateral treaties and agreements between Egypt and India include several memorandums of understanding (MOU) to cooperate in Information and Communication Technology and cyber security. The agreements also include two letters of intent to cooperate in the field of solar energy and launch the Egyptian nanosatellite.
The minister highlighted the role of the Egyptian-Indian Business Association, saying that it is essential to increasing the level of cooperation between the two countries. He added that members of the Egyptian team of representatives will be replaced.
With regards to his visit to Egypt, Kantha said: "India values its historic relationship with Egypt. My visit was an opportunity to build on this partnership with one of the most important countries in the region, and to actively work towards its expansion across different fields.
"Our trade and economic relationship has shown steady growth, and we are working towards resolving outstanding procedural issues at the earliest. We are confident that Egypt will be able to complete the roadmap to democracy at an early date. We know that the civilisational heritage of the Egyptian people will carry them through temporary difficulties."
The main exports from Egypt to India are petrol, liquefied natural gas, coal, phosphate, minerals and fertilisers; Egypt primarily imports meat, medicine, chemicals, tea and sugar.
Kantha stated that the Indian government aims to join the list of countries that export wheat to Egypt, adding that all obstacles that have hindered the achievement of this end have been overcome.
Kantha invited Abdel Nour to attend the "Partnership Summit", which will be held in India from 27 to 29 January.
Indian Ambassador to Egypt Navdeep Suri, who also attended the meeting, stressed on the necessity of implementing the agreement terms which have been reached between the two parties during the Joint Trade Committee meeting last March.
Earlier in November, Abdel Nour announced that Egypt and Saudi Arabia are set to develop a new roadmap for economic and trade relations during the coming period. Abdel Nour revealed the preparation of a "comprehensive exhibition", which will be held in January to showcase Egyptian products in Jeddah and Riyadh.
"It includes agricultural and industrial products, and other sectors," he said, noting that the exhibition will be held in coordination with the Egyptian-Saudi Business Council, Federation of Egyptian Chambers of Commerce (FEDCOC) and the Council for Saudi Chambers of Commerce and Industry.


Clic here to read the story from its source.