A business seminar was held on Thursday at the British University in Egypt (BUE) to discuss Indian-Egyptian economic relations and highlight the economic cooperation between the two countries, in the presence of the Indian ambassador to Egypt, Sanjay Bhattacharyya, and a group of Indian and Egyptian businesspeople, under the name “Indian-Egypt Economic Engagement”.
In his speech during the seminar, Bhattacharyya said that India and Egypt should work to unify their efforts to face challenges that may hinder their economic relations, including radicalisation, extremism, and terrorism.
“India has 50 joint projects in Egypt. Total Indian investments in Egypt are estimated at $3bn. Trade exchange between Egypt and India is estimated at $5.6bn, but has recently suffered a decrease due to the decline in global oil prices,” the ambassador said.
During the seminar, potential areas for the enhancement of bilateral trade between the two countries were discussed, in addition to investments in various sectors. The seminar provided the attendees with updates on the policies of the Egyptian government and the initiatives it carries out, with the aim of increasing the ease of doing business with India.
Mostafa El Feki, a former Egyptian ambassador to India and BUE board member, stressed the importance of India as an industrial country and gave a brief speech about his experience in the country.
“We are happy to host such an event in the presence of senior Egyptian and Indian businesspeople to discuss and activate the successful Indian model that we know very well has resulted in great progress in information technology and the medical industry in India,” said Ahmed Hamad, the president of the BUE.