India, Egypt to focus more on economic engagements

The Dollar Business Bureau

India and Egypt have agreed to enhance their current level of economic engagements, while also focusing on other bilateral areas of bilateral relations.

Egypt’s President Abdel Fattah AI-Sisi, who is on a three-day visit to India on September 1-3, met his Indian counterpart Pranab Mukherjee and discussed a wide gamut of bilateral and regional issues.

The two countries also underlined the importance of enhancing bilateral economic interaction. Sisi also welcomed India’s investments in Egypt, which stood at $3 billion, while seeking more investments in his country. He was also leading a trade delegation, which emphasised the need to discuss and resolve all trade and investment issues bilaterally.

Sisi and Indian Prime Minister Narendra Modi also agreed to encourage companies and corporations in their respective nations to explore emerging investments and economic opportunities in each other's countries.

Pitching his self-led Make in India initiative, Modi also welcomed Egyptian investments in its manufacturing and services sectors.

The Egyptian President also asked Indian companies to participate in the Suez Canal Economic Zone, especially in its agriculture, education, energy, IT, petro-chemicals, healthcare, education and skills.

Sisi congratulated Modi for taking several initiatives and achievements across various sectors; for completing two years in the central government; and for promoting economic growth, peace, and stability in the region and across the world.

Mukherjee said India is happy that Egypt has seen continuous progress towards economic development and political stability in the recent past.