Cairo: Minister of Foreign Affairs, Emigration, and Egyptian Expatriates Badr Abdelatty held a telephone conversation with Indian Minister of Commerce and Industry Piyush Goyal to discuss ways to strengthen economic cooperation between the two countries. The talks focused on mechanisms to increase bilateral trade and expand Indian investments in Egypt, in light of the strategic and economic potential both nations offer.
According to State Information Service Egypt, Abdelatty stated that Egypt seeks to boost trade with India from the current $5 billion to $12 billion by leveraging the complementary capabilities of both economies. He reaffirmed Egypt's commitment to supporting Indian companies seeking investment opportunities in the country. He noted the government's sustained efforts to provide a competitive and attractive investment environment, highlighting ongoing reforms aimed at promoting transparency, streamlining procedures, and enhancing the institutional and legislative framework to support both local and foreign investors.
He added that these reforms aim to create a more enabling business climate while reinforcing the private sector's role as a strategic partner in advancing sustainable development goals. The foreign minister also stressed the importance of establishing a Joint Business Council and launching an Egypt-India Chamber of Commerce, alongside convening a Business Forum during Goyal's anticipated visit to Egypt in the first quarter of 2026. These initiatives aim to further stimulate trade, investment, and broader economic cooperation between Cairo and New Delhi, he added.
Abdelatty outlined Egypt's interest in achieving industrial integration with Indian companies through strategic partnerships. He further underlined Egypt's strategic economic outlook, underpinned by its favorable location, diversified economy, and ongoing efforts to establish itself as a regional leader in green hydrogen and a conduit to international markets. He also noted that Egypt's extensive network of free trade agreements with regional and international partners enhances its attractiveness as a hub for manufacturing and export-driven investment.
Abdelatty welcomed Goyal's upcoming visit, which will be accompanied by a senior delegation of Indian CEOs and business leaders representing major industry groups. The visit will focus on exploring investment opportunities in the Suez Canal Economic Zone, identifying key sectors for collaboration, and discussing the possible establishment of a dedicated Indian industrial zone within the area.