The details in respect of trade between India and Egypt are as follows :

1. Bilateral trade figures during the last four years, (in million US Dollars):

 

                                                                                                                                         (US $ million)

Financial Year (July-June)	Total Exports to Egypt	Total imports from Egypt	Total trade	Trade surplus for Egypt
2003 – 04	155.34	453.87	609.21	298.53
2004 – 05	246.26	424.95	671.21	178.69
2005 – 06	363.67	930.29	1293.96	566.62
2006 – 07	427.42	1534.27	1961.69	1106.85

Source: CAPMAS of Egypt

2. Major items of export and import:

1. Major Indian Export items are engineering goods including machinery, instruments, diesel engines, pumps, vehicles; sesame seeds; cotton, jute yarn and other textile fibres; plastic & rubber; chemicals and pharmaceuticals; tobacco,  paper and cereals.

2. Import of buffalo meat and meat products and tea from India has resumed recently.

Major Indian Imports from Egypt include petroleum and petroleum products, Raw Cotton, Rock Phosphate, Coking Coal and Marble.

3. Indian investment in Egypt

India is the 12^th largest foreign investor in Egypt with a total investment of approximately $ 400 million in close to 40 projects. In addition, an Indo-Egyptian fertilizer company was floated in November 2005 between IFFCO of India and Al Nasr Mining Company of Egypt to establish a Phosphoric Acid plant in Upper Egypt entailing an investment of over $ 350 million, 76% of which will be by the Indian company. This would be India’s biggest investment in Egypt so far.  Other major investments include:

• Alexandria Carbon Black (ACB) set up by Grasim India Limited [Aditya Birla group] with TRENCO and ATC as Egyptian partners in 1994 with a capacity of 20,000 tonnes, has since grown to 180,000 tonnes, exporting  93% of its products and generating foreign exchange revenue or savings of close to US$ 100 million annually for Egypt.

• Alexandria Fibre Co. This acrylic fibre plant has been set up by the Aditya Birla Group with an initial investment of $ 60 million and with a capacity of 18,000 tonnes per year, planned to increase to 36,000 tonnes per year in its second phase. It has started production in February, 2006 and will provide much needed raw material for Egypt’s growing textile and garment industry resulting in foreign exchange savings and earnings of $ 35 million annually for Egypt. It provides direct and indirect employment to 1000 Egyptians. Prime Minister H.E. Dr. Ahmed Nazif, visited Alexandria Fibre Co. on April 9, 2006 and offered all help to potential investors from India.

• Asian Paints set up in November 2002 a joint venture with SCIB Chemical, (Orascom Group), by acquiring a 60% equity stake.

• Gas Authority of India Limited (GAIL) has picked up an equity and management stake in two gas distribution ventures in Al-Fayoum and Cairo, as well as in Natgas.

• Housing Development and Finance Corporation (HDFC) in October 2004 facilitated the setting up of EHFC (Egyptian Housing Finance Company) by acquiring 10% equity and providing technical as well as management assistance.

• The Oberoi group has been operating hotels and Nile cruises successfully in Egypt. They have been managing Hotel Mena House for the last three decades.

• Other important Indian investments in Egypt include: ESSEL of India which has set up a Joint Venture for manufacturing laminated tooth paste tubes for Proctor and Gamble in Egypt; Dabur India Ltd. which has established a 100% owned facility for the production of its cosmetics line; Niletex, which is also a 100% Indian company manufacturing PVC water-storage tanks; M/s. Auto Tech Engineering, another 100% Indian company manufacturing auto valves, Kirloskar Brothers who are into assembly of diesel engines and irrigation pump sets in Egypt; Ranbaxy has an Egyptian subsidiary for manufacturing pharmaceutical formulations; Ashok Leyland, in collaboration with Egyptian company, Engineering Automotive Manufacturing Company, is assembling and selling mini buses in Egypt.

 

4. CII is organising its ‘Made in India Show’ in Cairo from 20-23 November 2007, which will be accompanied by a host of events including business seminars, CEO’s Forum, a Fashion Show, Food Festival and cultural events. About 100 leading Indian companies in the areas of automotive industry, engineering, machinery, services, consumer goods, IT etc. are participating at this event.