Abdelatty expressed his appreciation to the Federation of
Indian Chambers of Commerce and Industry. He noted that Indian investments in
Egypt are estimated at approximately $4 billion, with around 55 Indian
companies operating in the country. He emphasized Egypt's commitment to
strengthening cooperation with India, particularly in food security,
communications, information technology, health, pharmaceuticals, water
desalination, new and renewable energy, textiles, automotive and components,
and the chemical industry.
He highlighted Egypt's aim to achieve industrial integration with Indian companies through successful partnerships. He added that Egypt can serve as a launchpad for foreign markets due to its strategic advantages, which provide access to Arab, African, and European markets, as well as Latin American countries, Mercosur members, and The Minister highlighted Egypt’s aim to achieve industrial integration with Indian companies through successful partnerships and to make Egypt a launchpad for regional and international markets. He pointed out that Egypt benefits from its strategic location and free trade agreements with Arab, African, and European markets, as well as Latin American countries (Mercosur) and Türkiye.
. This is supported by Egypt's
free trade agreements with numerous countries and economic blocs.
The Minister pointed to the Egyptian government’s efforts to
create a more competitive and attractive investment climate for local and
foreign investors. These efforts include transparency, supportive institutional
and legislative frameworks, improving the business environment, simplifying
procedures, and removing obstacles for investors. He stressed the importance of
strengthening the private sector as a key development partner.
He also discussed the bilateral agreements on encouraging
and protecting investments between Egypt and India, as well as the double
taxation avoidance agreement. He said these agreements give Indian companies a
comparative advantage when investing in Egypt. He added that a meeting with the
heads of Indian companies operating in Egypt will be held soon, with
participation from the relevant technical ministries.
Abdelatty addressed the outcomes of the Egypt-India
Strategic Partnership Agreement. He focused on cooperation in trading strategic
commodities to achieve food security and mitigate the global food crisis. He
stressed the importance of strengthening cooperation and increasing investments
in this sector to benefit both countries.
In conclusion, the Minister and Agarwal agreed to work
towards establishing a joint Egyptian-Indian Chamber of Commerce. This
initiative aims to enhance bilateral trade and industrial cooperation.