Trade between Egypt and India jumped 11.8% to reach $1.421bln in the period from January to May 2017.
Minister of Trade and Industry Tarek Kabil had a meeting with Indian Ambassador to Egypt Sanjay Bhattacharyya and the accompanying delegation of 50 Indian leading companies in machine manufacturing and technologies, which is currently visiting Cairo to participate in “Mactech Expo” held from November 16 to 19.
“Egypt is eager to bolster economic cooperation with India, particularly in the field of micro, small and medium-sized enterprises (MSMEs),” Kabil said.
The meeting also explored other possible areas of further cooperation between the two countries, such as: textiles, leather and auto feeding industries.
The ministry, he added, is working on building three big industrial complexes for textiles that will include more than 1,000 factories. “The new project can well benefit from the advanced Indian expertise in the textile machine industry,” he said.
Moreover, Kabil pointed out that the ministry had set up a large industrial city for leather manufacturing, “the biggest of its kind in the Middle East and Africa.”
According to official data, trade exchange between Egypt and India jumped 11.8 percent to $1.421 billion in the period from January to May 2017, compared to $1.270 billion in the same period last year.
Egypt’s exports to India in the first five months of the year reached $358 million, compared to $338 million a year earlier; including: petroleum products, phosphate, cotton, glass products, marble, granite and oranges.
Indian investments in the Egyptian market stand at $3 billion, in the fields of textiles, energy and chemical industries.