Egypt, India PMs co-chair roundtable meeting

Cairo, June 25 (BNA): Egyptian Prime Minister Mostafa Madbouly and his Indian counterpart Narendra Modi chaired a roundtable meeting to discuss cooperation during the latter’s current official visit to Egypt.

Madbouly affirmed Egypt’s keenness to consolidate relations with India in the areas of exchange of strategic commodities, especially wheat, higher education, health care and pharmaceutical production.

During the meeting, Madbouly welcomed the development of economic and trade relations between Egypt and India, as the volume of trade exchange between the two countries reached $7 billion, adding that the trade volume could reach $12 billion during the next five years.

He also praised the volume of Indian investments in Egypt, which amounted to $3.5 billion, expressing his hope that Indian investments would be doubled in the coming period.

For his part, Modi affirmed that Egypt is considered an important partner for India, adding that despite the Covid pandemic and global tensions, the Indo-Egyptian cooperation in the economic field witnessed great developments.

He explained that Indian companies have invested $170 million in Egypt in the past six months alone.