Egypt and India have outlined a plan to triple bilateral trade to US$12 billion within the next five years, up from US$4.2 billion in 2024. This is reported by Daily News Egypt, a partner of TV BRICS.

The commitment was formalised during a high-level meeting between Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, and India’s Minister of Commerce and Industry, Piyush Goyal, during El-Khatib’s official visit to India.

El-Khatib affirmed that Egypt seeks to attract increased Indian investment, particularly in key sectors such as renewable energy, chemicals, automotive manufacturing, pharmaceuticals, textiles, and information technology.

He highlighted major Indian-led projects in Egypt, including agreements worth in the green hydrogen and green ammonia sectors.

According to the source, to facilitate investment, Egypt is offering extensive support to Indian businesses, including infrastructure development and access to strategic economic zones.

African Times published this article in partnership with International Media Network TV BRICS