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Egypt, India trade exchange hits $3 billion

Ismailia and Suez Canal focus areas for Indian government due to their strategic geographical location

Sanjay Bhattacharyya, Indian ambassador to Egypt, said that the trade exchange between Egypt and India reached nearly $3 billion.

During a meeting with the members of the Chamber of Commerce in Egypt’s eastern city of Ismailia, Bhattacharyya added that the governments of the two countries are working tirelessly to increase the volume of economic exchange between Egypt and India, and support the cooperation between the two countries, especially in the field of culture, stressing the long historical links between Egypt and India.

He explained that Ismailia and Suez Canal are focus areas for the Indian government due to their strategic geographical location near the giant Egyptian national project for the development of the Suez Canal.

The Indian ambassador pointed to the existence of large Indian investments and projects in Ismailia for several decades in the framework of trade agreements between the two countries, and that there are ambitious promising prospects for more Indian investments in the region, especially in the fields of information and communications, renewable energy, small and medium sized enterprises and technology.

 

(US$1 = AED 3.67, at the time of publishing)