PM asserts Egypt’s keenness on entrenching relations with India

CAIRO, June 24 (MENA) – Prime Minister Mostafa Madbouli asserted Egypt’s keenness on entrenching relations with India in the fields of exchanging strategic commodities especially wheat as well as higher education, health care and medicine production.

This came during his meeting on Saturday with his Indian counterpart Narendra Modi in which ministers and officials from both sides had attended the meetings to discuss ways to enhance aspects of bilateral cooperation.

Earlier, Modi arrived in Cairo for a two-day state visit to Egypt at the invitation of President Abdel Fattah al-Sisi.

During the meeting, Madbouli welcomed the development of the Egyptian-Indian economic and trade relations as the volume of trade between the two countries had reached USD seven billon, adding that the volume of trade can reach USD 12 billion within the next five years.

He also hailed the volume of Indian investments in Egypt that reached USD 3.5 billion, hoping that the Indian investments will be doubled in the upcoming period.

While Modi pointed out that his visit and current talks reflect President Abdel Fatath El Sisi and Madbouli’s commitment to foster Egyptian-Indian relations.

He asserted that Egypt is considered as an important partner to India, adding that despite Covid pandemic and global tensions, the Indian-Egyptian cooperation in economic field had witnessed great developments.

He also said that Indian is a main source for foreign investments in Egypt as Indian companies had invested in Egypt USD 170 million in the past six months only. (MENA)

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