New Delhi: Egypt plans to double its bilateral trade with India in the coming years, aiming to reach $12 billion. Currently, trade between the two countries stands at around $2 billion.
Speaking at the Foreign Correspondents’ Club of South Asia in the national capital, Egypt’s Ambassador to India, Kamel Zayed Galal, highlighted the vast growth opportunities in sectors such as energy, manufacturing, agriculture, and connectivity.
The ambassador noted that Indian investments in Egypt, which are currently about $3.7 billion, are expected to exceed $10 billion in the near future. He urged Indian companies to view Egypt not just as a short-term business destination but as a long-term strategic partner.
Energy Cooperation and Strategic Advantages
Ambassador Galal emphasised energy as a key area for large-scale collaboration. He pointed out Egypt’s abundant solar and wind energy resources, its developing infrastructure, and easy access to major global sea routes. These factors position Egypt as a potential hub for green energy production and export.
He also expressed optimism about strong cooperation in fertilisers, agriculture, and industrial manufacturing between the two nations.
Trade and Investment Opportunities
The ambassador highlighted Egypt’s industrial zones and its free trade agreements with African and European countries, which offer significant advantages to Indian businesses. He described Egypt not just as a market for product sales but also as a base for production and export across various sectors.
Located on the Red Sea and the Mediterranean Sea, Egypt’s ports and the Suez Canal—which handles about 12% of global trade—make it an important gateway for international commerce.
Growing Strategic Partnership
Following meetings between Prime Minister Narendra Modi and Egypt’s President Abdel Fattah el-Sisi, India and Egypt elevated their relationship to a strategic partnership level in 2023. Ambassador Galal stated that the focus has now shifted from strengthening formal ties to achieving tangible economic outcomes.
Regarding Egypt’s foreign policy, the ambassador said the country supports strategic independence, cooperation among multiple nations, and respect for national sovereignty. Egypt avoids rigid political blocs and believes its approach closely aligns with India’s principles.
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