Al Alam Al Youm, p.5, (21-11-2007)

 

CII chairman: Egypt is gate to African markets, its exports to us amount to $1.3 billion

 

By: Abla Al Egeizi

 

For the first time in Egypt and the Arab world, the "Made In India" show started yesterday in the Fair Ground. The show will be held during 20-23 November. 80 Indian companies will participate in the show in the presence of the Indian Minister of Science and Technology and the CII chairman Mr. Arun Pankar who will head a delegation of Indian investors from major Indian companies as well as SME companies.

 

Pankar said India chose Egypt for its high growth rates amounting to 7% annually and its economic atmosphere convenient for trade and investments. The show, he said, is a good opportunity for Indian businessmen and companies to know about investment opportunities currently available in the Egyptian market in view of the excellent political relations between the two sides. The show, he added, will introduce Egyptian officials and private sector to the achievements of the Indian industry over the past decade and the investment opportunities available for the two sides, specially as India registered growth rates in excess of 9% during the recent years. He said the Egyptian businessmen are not sufficiently aware of this amazing progress while the Indian manufacturers and exporters lack information about the potential of the Egyptian market and the importance of the Egyptian strategic location, indicating that Egypt is not only a market of 80 million people, but also a gate to the markets of the Middle East, South Europe and Africa.

 

In 2006, he said, India was a major importer of Egyptian products as the Egyptian exports to India registered US$ 1.392 billion, while the Indian exports to Egypt occupied the 11th rank registering $ 345.95 million. India was also Egypt's third largest trade partner after the US and Italy in 2006. Egypt exports to India oil, oil products, natural gas, cotton, metals, phosphate, marble, hides, grains, gold, steel and cement, while India exports to Egypt engineering equipments, cotton, paper, cars, tea and pharmaceuticals.

 

The number of Indian tourists to Egypt increased by 30% over the last year reaching 61,000 tourists, he added.

 

On the sidelines of the show, businessmen and CEO forums will be organised as well as a fashion show, a cultural program and an Indian food festival with the objective of giving a comprehensive picture of contemporary India.

 

Bilateral relations between India and Egypt witnessed important developments over the recent months as the Indian Oil and Natural Gas Minister Murli Deora visited Cairo in April 2007, the Egyptian Minister of Communications and Information Technology visited India in December 2007, the Egyptian Minister of Domestic Development Dr. Ahmed Darwish visited India in December 2006, the Minister of Social Welfare Ali Meseilhi visited India in January 2007, the Minister of Tourism Mr. Mohammed Zuheir Garana visited India in April 2007. During the visit of the Egyptian Foreign Minister to India, the fifth round of the Joint Commission meetings was held. In addition, a number of agreements were signed between the two sides.

 

The Indian Trade Promotion Organisation are keen to regularly participate in the Cairo International Trading Exhibition held annually in Egypt. In addition, the Indian Export Promotion Council, CHEMEXCIL, the Indian Tea Board, the Indian Synthetic and Rayon Textiles Export Promotion Council and other exports promotion agencies in India held seller-buyer meetings in Egypt over the last year.

 

The Made In India show will focus on few promising fields including: