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India-Egypt bilateral trade to cross US$ 2 billion in 2007: Envoy

18 October 2007

NEW DELHI: Bilateral trade between India and Egypt is likely to witness more than two-fold increase to reach US$2 billion by the end of 2007 from US$850 million in the previous year.

"Last year, the total bilateral trade between India and Egypt was around US $850 million and with more Indian companies showing interests for the investments in the country, the total trade between India and Egypt is expected to cross US$2 billion by the end of this year," Ambassador of Egypt in India, Mohamed Higazy said while announcing the launch of 'Visit Egypt 2008' a campaign to attract Indian tourists to Egypt.

"Indian has become the third largest trading partner with us and investments from India in some sectors like Oil and Gas, and fertilisers is rising very rapidly," he added.

Last year, more than 75,000 Indian visited Egypt, which is far below the potential as both countries have cultural, economical and political relations since centuries, he added.

"With the number of steps taken by us this year and because of the increase in the business activities between both countries, we are expecting a two-fold increase in the number of visitors from India to Egypt," Higazy said.

Egyptian government is also working on promoting India as joint destination for packaged tours, particularly targeting religious, spiritual and monumental tourism.

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