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Nassar, Indian counterpart discuss boosting joint economic cooperation
6 November 2019  -  Organization :  -  Sector/Entity :  -  Category : Small Industries

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The meeting explored means of enhancing mutual cooperation between Egypt and India.

Cairo- Nov 6, 2019

Minister of Trade and Industry Amr Nassar has held a meeting with his Indian counterpart Hardeep Singh Puri, Minister for Housing, Urban Affairs, Civil Aviation, Commerce and Industry; in the presence of  Ambassador of India to Egypt Rahul Kulshreshth, and Head of the Egyptian Commercial Service Office (ECS) Ahmed Antar.  

Nassar confirmed that there are great opportunities to develop and reinforce the joint economic cooperation between Egypt and India, especially in the industrial field, in light of the enormous abilities and capabilities owned by the two countries.  

In this context, he referred to the Egyptian attempt to benefit from the Indian experience in the field of manufacturing, engineering components, especially cars and electric public transport.

“There is a consensus between the Egyptian and Indian governments to achieve a qualitative change in the level of the mutual economic relations during the coming stage,” he added.

Nassar pointed out that trade between Egypt and India reached $4.5 billion last year, including $1.7 billion Egyptian exports and $2.8 imports, stressing the need to exert more effort to achieve a balance in trade between the two countries.

In this regard, the minister highlighted the importance of benefiting from the African Continental Free Trade agreement, indicating that the agreement opens new markets for Egyptian exports in the African continent, which has a local output of $2600 dollars and has a huge market of 1.2 billion consumers.


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