PM Modi welcomed in EgyptImage Credit source: Twitter
PM Modi on Saturday after a four-day state visit to America Egypt reached Cairo, the capital of This is a two-day visit of PM Modi to Egypt with the aim of promoting bilateral strategic relations. This is his first visit to Egypt as Prime Minister. At the same time, this is the first bilateral visit of an Indian Prime Minister since 1997.
PM Modi will hold bilateral talks with Egyptian President Abdel Fattah el-Sisi on Sunday. And will also participate in many programs with the Indian diaspora. Prime Minister Modi will also visit the Al-Hakim Mosque and the Heliopolis War Grave Cemetery to pay homage to the Indian soldiers who laid down their lives fighting for Egypt during World War I.
Emphasis will be on increasing strategic partnership
This visit is considered very important for the interest of both India and Egypt. Egypt has traditionally been one of India’s reliable trading partners in the African continent. The India-Egypt Bilateral Trade Agreement is in force since March 1978 and is based on the Most Favored Nation clause.
During this visit, ways to further accelerate the strategic partnership between the two countries will be discussed. PM Modi has already said that- “I am very excited about the state visit to my close and friendly country for the first time. The India-Egypt dialogue in a span of a few months is a symbol of a rapidly evolving partnership.”
Both countries will focus on bilateral trade
Egyptian President Abdel Fatah el-Sisi was India’s chief guest on Republic Day this year. During this, both the countries had an important meeting regarding business partnership. Egypt had expressed its desire to increase trade with India. It is understood that the level of education in Egypt is not very good, in this regard it seeks help from India.
In January, both the countries emphasized on further expansion and strengthening of their bilateral trade. Also talked about the target of taking the bilateral trade of $7 billion to $12 billion. It is understood that this can be sealed in Sunday’s talks.
Agriculture, Defense, Suez Canal and Terrorism are also special issues
The issue of terrorism is also likely to be very important during the meeting of the two countries. Because Egypt has always been supporting India on the issue of terrorism, contrary to the attitude of Muslim countries. Apart from this, India and Egypt also want to increase their partnership in the defense sector. At the same time, investment, industry, security, energy and cultural exchange can also be very important in the Suez Canal Economic Zone.
It is understood that Indian films are very popular in Egypt, so talks are possible between the two countries to promote film shooting and tourism industry.
How important is the India-Egypt business partnership?
India was the fifth largest trading partner of Egypt during April 2022-December 2022. Then India was also the 11th largest importer of Egyptian goods and the 5th largest exporter of Egypt. The latest bilateral trade between the two countries has reached $5.175 billion. In which Indian exports were $3.473 billion and Indian imports were $1.702 billion.
There are over 450 Indian companies registered in Egypt. Out of which about 50 companies are active in many sectors. Whose total investment is more than 3.15 billion dollars. The investment of Egyptian companies in India is around $37 million.
Also read: Where is Suez Canal, what is its importance for India?
