Al Ahrar, P.7 (2-7-2008)

Trade exchange between Egypt and India amounts to US$ 2.5 billion

By: Sanaa Al Karas

    The Indian External Affairs Minister Mr. Pranab Mukherjee arrived in Cairo in a 3-day visit to Egypt at the invitation of the Egyptian Foreign Minister Mr. Ahmed Abul Gheit.  It is worth mentioning that the last visit paid by the Indian External Affairs Minister to Egypt was in 2001. The visit of the Indian Minister aims at discussing relations between Egypt and India, given the remarkable progress of bilateral economic and commercial relations during the last few years. It is worth mentioning also that India is the fourth largest trade partner of Egypt and is the largest importer of the Egyptian products. Bilateral trade between the two sides amounts to US$ 2.5 billion (major bulk of which is hydrocarbon products). The Indian investments in Egypt at present time register US$ 750 million and are expected to reach US$ 2 billion by 2010. With regard to political relations, several high-level ministerial visits had been exchanged between the two countries, the last of which was by the Egyptian Minister of International Cooperation to India to attend India-Africa Forum in New Delhi. Moreover, the Egyptian Ministers of Industry and Agriculture visited India last April. From the Indian side, the Indian Home Minister visited Egypt last January and the Indian MoS for Commerce visited Egypt last May and attended the World Economic Forum in Sharm El Sheikh.

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