Egypt Targets $12 Billion Bilateral Trade with India, Focuses on Energy and Manufacturing
Egypt aims to increase its bilateral trade with India from $5 billion to $12 billion, focusing on sectors such as energy, manufacturing, and agriculture. The Egyptian Ambassador to India emphasized the potential for growth, particularly in renewable energy like green hydrogen, while Indian investments in Egypt are projected to surpass $10 billion. This partnership was elevated to a Strategic Partnership following discussions between the leaders of both nations in 2023.
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Egypt aims to nearly double its bilateral trade with India to $12 billion from the current $5 billion. Egyptian Ambassador to India, Kamel Zayed Galal, highlighted opportunities for growth in energy, manufacturing, agriculture, and connectivity.
Indian investments in Egypt, currently at $3.7 billion, are expected to exceed $10 billion. The focus on energy cooperation, especially in renewable sectors like green hydrogen, is increasing due to Egypt's solar and wind resources.
Egypt's strategic location enhances international trade, with sectors such as fertilizers and manufacturing identified for development. The country’s ports and the Suez Canal, crucial for global trade, support its role as a trade gateway.
The partnership was elevated to a Strategic Partnership following discussions between Indian Prime Minister Narendra Modi and Egyptian President Abdel Fattah el-Sisi in 2023. Both nations are set to enhance their economic collaboration significantly.
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