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Egypt seeks closer ties with India's MSMEs

Nov 28, 2017
Egypt seeks closer ties with India

The African country Egypt is keen in strengthening ties with India along trade, especially in the Micro, Small and Medium Enterprises (MSME) sector, The Egyptian Minister of Trade and Industry Tarek Kabil in a press interview recently said.

The Minister said that there is huge potential for the two countries to explore in different categories of the MSMEs manufacturing different commodities.

He made these remarks during an interactive session with an Indian delegation led by the Indian Ambassador to Egypt Sanjay Bhattacharyya.

Listing possible areas of cooperation, Kabil said that among different industries, textiles and leather could be of interest for enhanced involvements. The Indian delegation met the Minister along the sidelines of Mactech Expo in the capital city Cairo.

Kabil informed that his office is working on building three big textile industry clusters, which will include more than 1,000 units. He further invited the Indian investors to invest in these projects.

The Egyptian Minister also said that the investors from India can take benefit of the various free trade agreements Egypt has signed with other African, Arab and European markets as well as Turkey and the Mercosur bloc.

Citing statistics, the Egyptian Minister informed that India is contributing in projects in Egypt with a capital of $3 billion in different sectors including textiles, energy and chemical industries.