Factbox: Full African draw for 2022 World Cup qualifiers    Maspero triangle's towers will be up and standing in 30 months: NUCA    9 oil, gas search agreements signed at $452m investment in Mediterranean, Western Desert    80 Houthis killed, 100 imprisoned during clashes with Yemen's army    Dutch RVO, EBA discuss cooperation opportunities in Egyptian market    TMG to sponsor 5 Egyptian athletes qualified to Tokyo Olympics 2020    Egypt, WFP discuss boosting cooperation to combat illegal immigration    China corona virus claims sixth victim as holiday travel heightens infection risks    U.S. Stock Index Futures Decline Amid China Virus Worries    Hundreds in river 'no-man's land' after Mexico troops block way    Murders in Mexico hit record as Lopez Obrador seeks justice system reform    Villa signs Tanzania international Mbwana Samatta from Genk    New Club World Cup threatens soccer ecosystem: La Liga chief    European stocks fall on China virus concerns as world leaders gather in Davos    EgyptAir introduces Comfort Class in new A220-300 fleet    CIB signs $100M MoU with British institution CDC    Nile Sat earnings slip 20.5% in 2019, recorded $42.5 mln    Chinese court jails former Interpol chief for 13-1/2 years over graft    Egypt's debt ratio to beat target this year: minister    Egypt warns against unilateral measures harming stability in Cyprus    Virus spreads to more Chinese cities, President Xi says containment is priority    Egypt concludes its 4th Group Psychotherapy Conference    EU must consider ways to support Libya truce: Borrell    46th Cairo Film Society Festival for Egyptian Cinema to kick off 25 January    Initiative for visually impaired Egyptians to receive art education    Google celebrates 106th birthday of Egyptian lawyer Moufida Abdel Rahman    Shoukry in Libya talks on sidelines of Berlin conference    Egypt's Sisi extends state of emergency for 3 months    Egypt's Azhar cooperates with all religious institutions to achieve international peace : Sheikh Ahmed El-Tayyeb    Madbouly chairs SCNW meeting on GERD's upcoming technical, legal discussions    Quaint little hole in the wall downtown selected by CNN as Egypt's best Molokhia    Two Egyptian artists to participate in site-responsive exhibition at Medina's Al-Ula, Saudi Arabia    Harry, Meghan drop their royal titles repay £2.4 mln    International Film Music Contest accepts entries from a variety of composers, performers    Parliamentary elections to be held in November: Baha Abu Shoqa    No pressures imposed on Egypt to accept Washington's deal on GERD: Irrigation Ministry    Egypt's young pharaoh, TUT in Australia's Boston exhibition    Egyptian actress Magda Al-Sabahi dies at 89    Egypt is best tourism destination for 2020 according to BBC    Nancy Ajram's husband charged with ‘intentional' murder    Mission Africa continues    Ethiopian Dam talks to continue in Washington on Wednesday : Ministry    NBE studies establishment of rowing club in Cairo    Egyptian sports in 2020: challenges and opportunities    Egypt's Zamalek, Smouha presidents hit with disciplinary sanctions by EFA    Egypt's President Sisi pardons some prisoners on 25 Jan. Revolution anniversary    Egypt's Sami Anan released after near two-year detention    Liverpool's Mohamed Salah optimistic to see Egypt at 2022 World Cup    

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

Egypt's trade exchange with India likely to hike by over 128% to reach $8bn
Both countries are good models for promising economies, says Indian ambassador
Published in Daily News Egypt on 17 - 04 - 2019

India plans to increase its trade exchange with Egypt by over 128% to reach about $8bn in the next period, in comparison with $3.6bn last year, according to the Indian ambassador to Egypt, Rahul Kulshreshth.
The joint committee will be held in Cairo next year, headed by both countries' foreign ministers, the ambassador added during a press conference on Monday. He noted that Egypt implemented major economic reforms which promoted Egypt's investment climate in addition to the strategic location which encourages companies to inject more investments in Egypt.
“Egypt's geographic location allows it to be a regional hub for re-exporting to different markets, particularly in Africa and the Arab region,” the ambassador added, noting that Indian investments in Egypt are at $3.3bn through 50 firms in the sectors of textile, chemicals, technology, health care, plastics, automotives, and other key sectors.
Egypt and India are good models for promising economies, he emphasised, explaining that India achieved strong economic growth last year with about 7% GDP growth which was commended by the international institutions in addition to India's efforts in facilitating the foundation procedures of new firms.
The Egyptian economy achieved 5.5% increase in GDP growth and aims to continue the increasing trend to reach over 6% which promotes opportunities of more collaboration with Egypt, the ambassador stated, noting that the Egyptian market enjoys very large purchasing power which is a key factor of attracting new investments.
“Egypt is also a stable economy now which is very important for investors especially after the economic reforms,” he said.
India and Egypt suffered from the same terrorism challenges and there are continuous meetings to discuss issues of the security files, said the ambassador.
Additionally, Vinod Bahade, first secretary for commerce at the Indian embassy in Egypt, said that Egypt's trade agreements with most of the African countries allow Indian products in Egypt to access many African markets.
African markets are a priority for India, and it allocated investment financial packages for projects in Africa, including Egypt, in line with Egypt's presidency of the African Union this year, he added.
Trade exchange between Indian and Africa is at $62bn and this figure is expected to increase in the next period, Bahade declared.

Clic here to read the story from its source.