India, Egypt hold talks to enhance trade cooperation

Posted by Daily Shipping Times on 22-11-2017        Tweet

CAIRO: Egypt is keen on boosting economic cooperation with India specially in developing small and medium enterprises, a Senior Minister said recently.

 India is Egypt’s 10th largest export destination and also the 10th largest import source. Minister of Trade and Industry Tarek Kabil said there are possibilities to enhance bilateral cooperation in key areas like automotive industry, textile and leather products. His remarks came during a meeting with Tamil Nadu’s Minister of Rural Industries P Benjamin who is here leading the Indian delegation participating in the MACTECH Fair in the Cairo International Convention Centre.

Indias Ambassador to Egypt Sanjay Bhattacharyya said that both the sides discussed possibilities of technology and investment cooperation in textiles and leather sectors.

"India’s participation with 50 companies at MACTECH Fair was with the objective of showcasing our strengths in engineering and capital goods. Our advantages lie in high quality, affordable prices and efficient utilisation of labour," Bhattacharyya said.

"Among the largest suppliers of capital goods to Egypt, we wish to increase exports and also look for opportunities for joint ventures," the Indian envoy said.

The delegation from the Engineering Export Promotion Council of India (EEPC India) comprises 50 leading Indian machine tools and technology firms.

The Indian Pavilion is organised by the EEPC, the premier trade and investment promotion group in engineering sector sponsored by the Ministry of Commerce and Industry, Government of India, in association with the Embassy of India in Cairo.