New Delhi, Jan 25 (IANS) Egypt has set a strong goal to nearly double its trade with India, aiming to reach $12 billion in the coming years.

Currently, trade between the two countries stands at around $5 billion, which Egypt believes is far below the real potential of the partnership.

Speaking at the Foreign Correspondents’ Club of South Asia here, Egypt’s Ambassador to India, Kamel Zayed Galal, said both nations have many opportunities to grow together, especially in sectors like energy, manufacturing, agriculture and connectivity.

He also shared that Indian investments in Egypt, which are now around $3.7 billion, are expected to cross $10 billion in the future.

The Ambassador encouraged Indian companies to see Egypt as a long-term strategic partner rather than just a short-term business destination.

Energy cooperation is becoming a major focus, especially in renewable energy and green hydrogen.

Galal explained that Egypt has strong solar and wind resources, along with growing infrastructure and easy access to major global shipping routes.

These advantages could help Egypt become an important hub for green energy production and exports. He also pointed to fertilisers, agriculture and industrial manufacturing as areas where closer supply chain links could quickly increase trade.

The Ambassador highlighted Egypt’s industrial zones and its free trade agreements with African and European countries as major benefits for Indian businesses.

He said Egypt is not just a market to sell products but also a base for production and exports to wider regions.

Egypt’s ports on the Red Sea and Mediterranean Sea, along with the Suez Canal — which handles about 12 percent of global trade — make it a key global trade gateway.

India and Egypt upgraded their relationship to a Strategic Partnership in 2023 after meetings between Prime Minister Narendra Modi and Egyptian President Abdel Fattah el-Sisi.

According to Galal, the focus has now moved from building ties on paper to delivering real economic results.

Talking about Egypt’s foreign policy, the Ambassador said the country supports strategic independence, cooperation among many nations and respect for national sovereignty. It avoids strict political blocs and believes this approach closely matches India’s views, especially on the need to reform global bodies like the United Nations.

–IANS

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