Seeking to enhance India’s trade ties with Egypt, a 17-member business delegation has arrived here to participate in a seminar to scout investment opportunities in the country. The Confederation Indian Industries (CII) delegation is led by Ajit Gupte, Joint Secretary, Ministry of External Affairs, Government of India is in Egypt, at the invitation of Federation of Egyptian Industries (FEI).
The delegation members are drawn from various sectors including agri-business, infrastructure, chemicals, power, food industry and business services. During their visit, the delegation will call on several Egyptian Ministers including Minister of Trade and Industry, Minister of Petroleum and Metallurgical Wealth, Minister of Electricity and Renewable Energy and Minister of Transport.
The three-day visit of the CII delegation is a part of the efforts to boost the trade relations between the two countries, spanning across diverse sectors. They will also be meeting senior officials from General Authorities for Investment and Free Zones (GAFI) and Suez Canal Economic Zone Authority.
The delegation will attend India-Egypt Business Seminar organised jointly by the Embassy of India in Cairo, Confederation of Indian Industries (CII) and Federation of Egyptian Industries (FEI). The seminar will deliberate upon various trade and investment opportunities between India and Egypt. It will be attended by business persons from various Egyptian business chambers and government officials.
India has a significant economic presence in Egypt with over 50 companies and joint ventures and an investment exceeding $3 billion. Indian entrepreneurs are optimistic about the long-term potential in Egypt and look forward to mutually beneficial win-win collaborations.
India is the ninth largest trading partner for Egypt, with 12th largest source for import and seventh largest destination for exports. The government and business community in both the countries are working closely to promote and expand bilateral economic relations.
Source: financialexpress.com