Press Release No. 8

3 February 2008

Visit of textile industry delegation from India to Egypt

[30 January – 01 February 2008]

    H. E. Mr. Shankersinh Vaghela, Minister of Textiles, Government of India, accompanied by a high-level delegation from the Indian textile industry visited Egypt from 30 January to 1 February 2008.  During the visit, the delegation called on H.E. Eng. Rachid Mohammad Rachid, Minister for Trade and Industry, and H.E. Dr. Mahmoud Moheildin, Minister of Investment.  The members of the delegation had extensive interactions with leading industrialists and businessmen connected with the textile and garment industry of Egypt.  The India-Egypt Joint Business Council hosted a business dinner for the delegation which was attended by leading public and private sector textile and garment industry heads and representatives of the textile industry chambers.

    During the discussions, both sides recognized the complementarities between the textile and garment industries of India and Egypt and decided to work closely to take full advantage of each others’ strengths for mutual benefit. The Egyptian side emphasized the large potential for Indian companies to invest in Egypt’s textile sector and to participate in upgradation and modernization of Egypt’s textile industry.

    Both India and Egypt have well-developed textile and garment industries. Egypt imports a large part of the requirement of man made fibres and textiles for its textile and garment industries from India. Such imports have significant potential to expand, given the rapid growth of the garment industry in Egypt. On the other hand, India is the largest importer of Egyptian raw cotton and cotton yarn for its textile and garment industries.

    The Indian side invited a delegation of leading representatives of the textile and garment industry of Egypt to visit India to further develop the ideas of cooperation identified during the visit.

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