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Egypt Aims to Double Trade with India to $12 Billion, Eyes Green Energy Hub

Egypt has set an ambitious target to nearly double its bilateral trade with India from the current $5 billion to $12 billion. The country's Ambassador emphasized opportunities in renewable energy, manufacturing, and agriculture, positioning Egypt as a production and export hub. Indian investments, currently at $3.7 billion, are projected to surpass $10 billion, leveraging Egypt's ports and free trade agreements. The relationship was elevated to a Strategic Partnership in 2023, with a focus on delivering concrete economic outcomes.

Key Points: Egypt-India Trade Target $12B, Focus on Energy & Investment

  • Double trade to $12B
  • Indian investment to hit $10B
  • Green energy & logistics hub
  • Strategic partnership upgrade
  • Supply chain links in agriculture & manufacturing
2 min read

Egypt aims to double trade with India to $12 billion

Egypt targets $12B trade with India, up from $5B. Ambassador highlights green energy, manufacturing, and strategic partnership growth.

"Egypt is not just a market to sell products but also a base for production and exports to wider regions. - Ambassador Kamel Zayed Galal"

New Delhi, Jan 25

Egypt has set a strong goal to nearly double its trade with India, aiming to reach $12 billion in the coming years.

Currently, trade between the two countries stands at around $5 billion, which Egypt believes is far below the real potential of the partnership.

Speaking at the Foreign Correspondents' Club of South Asia here, Egypt's Ambassador to India, Kamel Zayed Galal, said both nations have many opportunities to grow together, especially in sectors like energy, manufacturing, agriculture and connectivity.

He also shared that Indian investments in Egypt, which are now around $3.7 billion, are expected to cross $10 billion in the future.

The Ambassador encouraged Indian companies to see Egypt as a long-term strategic partner rather than just a short-term business destination.

Energy cooperation is becoming a major focus, especially in renewable energy and green hydrogen.

Galal explained that Egypt has strong solar and wind resources, along with growing infrastructure and easy access to major global shipping routes.

These advantages could help Egypt become an important hub for green energy production and exports. He also pointed to fertilisers, agriculture and industrial manufacturing as areas where closer supply chain links could quickly increase trade.

The Ambassador highlighted Egypt's industrial zones and its free trade agreements with African and European countries as major benefits for Indian businesses.

He said Egypt is not just a market to sell products but also a base for production and exports to wider regions.

Egypt's ports on the Red Sea and Mediterranean Sea, along with the Suez Canal -- which handles about 12 percent of global trade -- make it a key global trade gateway.

India and Egypt upgraded their relationship to a Strategic Partnership in 2023 after meetings between Prime Minister Narendra Modi and Egyptian President Abdel Fattah el-Sisi.

According to Galal, the focus has now moved from building ties on paper to delivering real economic results.

Talking about Egypt's foreign policy, the Ambassador said the country supports strategic independence, cooperation among many nations and respect for national sovereignty. It avoids strict political blocs and believes this approach closely matches India's views, especially on the need to reform global bodies like the United Nations.

- IANS

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Reader Comments

P
Priya S
Good to see focus on green hydrogen and renewables. We have the tech, they have the solar/wind resources. Perfect partnership for a sustainable future. Hope our companies move fast on this.
R
Rohit P
$12 billion is ambitious but doable. The Suez Canal access is the real prize here. Our pharma, auto parts, and textiles can reach new markets much faster. Government should simplify logistics for SMEs to benefit.
S
Sarah B
While the ambition is great, I hope we proceed with careful due diligence. Investing $10 billion is a massive commitment. We need to ensure political and economic stability in Egypt is conducive for such long-term bets. A respectful word of caution.
K
Karthik V
Agriculture and fertilisers cooperation is key. Egypt has the land and location, we have the expertise and demand. This can help stabilise food prices back home too. Win-win.
M
Michael C
Interesting to see both nations aligning on foreign policy - strategic independence, multi-alignment, UN reform. This is about more than trade; it's about building a strong Global South partnership. Good strategic move.

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