According to the news portal Prensa Latina (partner of the international network TV BRICS), Egypt will allow the construction of Indian enterprises in the special economic zone of the Suez Canal. The corresponding decision was made during the visit of Egyptian President Abdel Fattah el-Sisi to Delhi. It is reported that the agreement continues the positive trend for cooperation between both countries.
“The two rulers highly appreciated the strong bilateral economic commitments and expressed satisfaction with the current level of trade between the two countries, amounting to a record seven billion 260 million dollars in 2021-22, despite the problems associated with the Covid-19 pandemic,” Prensa Latina notes.
Representatives of India and Egypt agreed on measures to promote mutual investment in economic projects. The news portal reports that for both countries, the development of bilateral trade will become a priority for the next 5 years – they plan to reach a turnover of $ 12 billion. Such a level will be achieved not only through mutual investments, but also by expanding the range of products.
The author of the article is Sofia Chernopyatova