Egypt, India Chart Path To $12Bn Trade Arabian Post

2026-09-14 04:19:51

(MENAFN- The Arabian Post) clearfix">Egypt and India have agreed to pursue concrete steps towards lifting bilateral trade to $12 billion, with President Abdel Fattah El-Sisi and Prime Minister Narendra Modi also discussing ways to expand investment ties during talks on the sidelines of the 18th BRICS Summit in New Delhi.

The leaders met on Sunday as Egypt pressed for faster progress on a trade goal first set during El-Sisi's state visit to New Delhi in January 2023. Egypt's presidency said the discussions covered measures to strengthen the strategic partnership, increase commerce and encourage more investment from India in sectors including manufacturing, technology, clean energy and the automotive industry.

El-Sisi stressed the importance of translating the economic relationship into projects and commercial flows capable of taking trade to the $12 billion target. The two sides also reviewed opportunities for companies from India to expand their presence in Egypt, which Cairo has promoted as a production and export base serving markets in Africa, the Middle East and Europe.

<p>Bilateral merchandise trade stood at about $6.5 billion in the 2025-26 financial year, according to figures cited by India's embassy in Cairo. That leaves the two countries seeking almost to double the current level if they are to reach the objective discussed by their leaders.</p><p>Investment formed a central part of the meeting. Egypt highlighted manufacturing, information technology, renewable and clean energy, and vehicle production as areas where it wants to attract additional capital. Cairo has also sought greater participation by overseas companies in the Suez Canal Economic Zone and other industrial centres as it works to raise exports and secure more foreign currency.</p>See also  ICICI Bank narrows gap on HDFC Nifty lead <p>Modi and El-Sisi reviewed the broader strategic partnership and discussed cooperation in economic and commercial fields, along with regional and international developments. Their meeting came as New Delhi hosted the September 12-13 BRICS summit under the theme of resilience, innovation, cooperation and sustainability.</p><p>Egypt joined BRICS at the start of 2024 and has since used the grouping to widen economic links with major emerging economies. The New Delhi summit brought together an expanded bloc whose agenda included trade, finance, technology, energy, climate issues and greater use of national currencies in cross-border transactions.</p><p>The trade push also builds on institutional contacts between Cairo and New Delhi. Egypt's Foreign Minister Badr Abdelatty said during BRICS ministerial meetings in May that the two countries wanted to raise bilateral trade to $12 billion over five years and strengthen cooperation in investment, technology and other economic sectors.</p><p>El-Sisi and Modi upgraded relations to a strategic partnership in 2023, creating a framework for closer coordination across trade, investment, defence, energy and political consultation. The latest talks focused more narrowly on turning the economic component of that partnership into measurable gains, particularly through private-sector investment and expanded market access.</p><p>Egypt has been courting manufacturers as it seeks to increase domestic production and exports, while companies from India already operate in industries including chemicals, textiles, food processing and manufacturing. Cairo's investment campaign has emphasised projects that can supply the domestic market while using Egypt's trade agreements and transport links to reach neighbouring regions.</p><p>The two leaders also discussed international and regional issues, according to Egypt's presidency, without announcing a separate bilateral agreement during the meeting. Their talks were among a series of leader-level engagements held around the BRICS gathering as member states sought to advance economic cooperation alongside the summit's wider diplomatic agenda.</p>See also  Woman held after objects thrown at Shivaji statue <p>For Egypt, the $12 billion goal provides a benchmark for a relationship that has expanded beyond traditional merchandise trade into investment-led cooperation. For India, stronger commercial ties with Egypt offer access to a major Arab and African market and to production locations close to the Suez Canal, one of the world's principal shipping routes.</p><div class='code-block code-block-1'><h2></h2></div>

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Egypt, India Chart Path To $12Bn Trade Arabian Post

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