The Egyptian Minister of Investment and Foreign Trade, Hassan Al-Khatib, met with Indian Foreign Minister Dr. Subramanyam Jaishankar during an official dinner hosted by the latter in honor of the Egyptian Minister. The two parties discussed ways to enhance bilateral relations between Egypt and India across various fields of mutual interest.
During the meeting, Al-Khatib stated that the primary focus was on advancing economic and trade relations between the two countries. He emphasized the importance of exploring opportunities for joint trade and investments. According to Al-Khatib, the volume of trade exchange between Egypt and India reached approximately $4.2 billion during 2024, a figure that highlights the potential for future growth.
Al-Khatib underscored the active role that Indian companies play in the Egyptian economy. He noted that 55 Indian companies are currently investing across various sectors in Egypt, with total investments estimated at around $3.75 billion. This dynamic engagement signals the strength of Indian business presence in the region and reflects a growing economic partnership.
Moreover, both sides reiterated their commitment to boosting investment and trade cooperation. They referenced an agreement that emerged from the seventh session of the Joint Trade Committee, which took place in New Delhi in September 2024. This agreement aims to elevate the trade exchange volume to $12 billion in the coming period, indicating a clear strategy for expanding commercial activities between the two nations.
The discussions also highlighted the necessity of strengthening collaborative efforts to facilitate increased trade exchanges. Al-Khatib noted that both nations are keen on bringing mutual benefits and enhancing strategic partnerships, which would ultimately serve their respective economic interests.
This meeting culminates in ongoing efforts by both governments to solidify relationships in sectors such as technology, pharmaceuticals, and renewable energy—areas where both countries see rich potential.
The recent interactions between Egypt and India showcase diplomatic engagements that could pave the way for enhanced cooperation on various levels. By agreeing on these ambitious trade goals, the nations are positioning themselves for a future of deeper economic interaction, which may serve as a model for other nations looking to boost trade ties.
In summary, both Al-Khatib and Dr. Jaishankar expressed optimism about the future of Egypt-India relations, signaling a commitment not only to economic growth but also to mutual benefit for both countries.
