Al Gomhuria, P.6 (19-5-2007)

 

Inquiries

 

By: Mr. Abdallah Nassar

 

The Ambassador of India in Cairo Mr. Gopinathan told me that the Indian commercial and industrial delegations, which visited Cairo during the last few months, did not only focus on trade, but they also explored the available investment opportunities.  

 

I asked the Indian Ambassador "Why did these delegations focus during their talks on trade and exploring the market? And what is the significance of “Made in India" Show, which will be organized next November in Cairo?

 

The Indian Ambassador said, "Trade could lead to investments. Made in India Show does not aim only at promoting the Indian products, but also at exploring investment opportunities and facilitating the establishment of joint ventures and transfer of marketing-related technology. Among the events to be organised on the sidelines of the show are business seminar, CEOs' Forum, a fashion show and a festival for Indian food. The objective behind all these activities is to give an image of contemporary India."

 

I told the Indian Ambassador that the Indian companies remarkably opt for establishing investments in the field of petrochemicals.

 

The Indian Ambassador said, "Not only this sector, but there are also other sectors, like weaving and spinning, which are open for investments."

 

I asked him, "What is the opinion of the Indian commercial and investment delegations, which visited Egypt recently, about trade and investments opportunities in Egypt?"

 

The Indian Ambassador replied, "The Egyptian market is promising. There are good areas of investments. We seek to enhance joint investments through supplying Indian businessmen with information about the incentives and facilities being offered by the Egyptian government to investors."

 

I asked him, “Do the Indian investors face any obstacles or problems?"

The Indian Ambassador answered, "There is no substantial problems. There might be inquiries or small problems, which are settled through the local bodies concerned with investments. None of the Indian investors or companies working in Egypt submitted a complaint to the Embassy, which was difficult to settle or he failed to get the due support from the concerned bodies. This confirms that investment climate in Egypt is improving and this will be serving the interests of investors in the two countries."

 

I asked him, "What about tourist flows from India?"

 

He said, "The number of the Indian tourists visiting Egypt has been growing. 61,000 Indian tourists visited Egypt in 2006, recording an increase of 30% over the year 2005.

 

I asked him, "What about the volume of the Indian investments in Egypt and your expectations?"

 

He replied, "Indian investments currently are estimated at US$ 400 and they are poised to increase to US$ 1.2 billion in the next two years. The Indian IT companies are interested in establishing joint ventures and investments in Egypt."

 

The major Indian companies working in the fields of petrochemicals and natural gas sector are planning to have investments in Egypt. An Indian company has contributed to a significant oil discovery in North Ramadan Concession in Suez. The Indian businessmen are interested in having investments in Egypt, given its huge market (80 million) and its unique location as a gate to the markets of the Middle East, Africa and South Europe.

 

I asked the Indian Ambassador, "Does trade exchange between the two sides reflect the strong political and historical relations between the leaderships and peoples of the two countries?"

 

The Indian Ambassador said, "Trade exchange between the two countries hit US$ 1.7 billion in the year 2006. India has become Egypt's third largest trading partner after the US and Italy. The Indian exports to Egypt amounted to US$ 354.90 million and Indian's imports from Egypt stood at US$ 1,392 million during this period, 95% of which was oil and gas."

 

The Indian Ambassador added, "Relations between the two countries have witnessed several significant developments with the exchange of ministerial visits. The Indian Minister of Petroleum & Natural Gas recently visited Cairo. Also, the Egyptian Minister of Communications Dr. Tarek Kamel visited India. In December 2006, Minister of Foreign Affairs Mr. Ahmed Abul Gheit visited India, where the 5th session of the India-Egypt Joint Commission was held and several agreements on bilateral cooperation in different fields were signed."

 

"The Egyptian MoS for Administrative Development Dr. Ahmed Darwish and Minister of Social Solidarity Dr. Ali Moselhi visited India.", he added.

 

The Indian Ambassador said, "We seek to encourage bilateral visits by officials, commercial delegations and businessmen to boost cooperation between the two countries and strengthen people-to-people contacts. I believe that Made in India show would be a good opportunity to further enhance bilateral interaction and cooperation in all walks of life."

 

Meaningful words:

 

An Indian proverb says: If you managed to deceive me one time,
the fault is yours, but if you deceived me twice, the fault is mine."

 

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