Egypt, India trade reaches $830 million

Indian ambassador in Cairo Rajindar announced that the volume of bilateral trade between Egypt and India was valued at $ 830 million during the period April 2005-March 2005.

At a press conference Tuesday, the ambassador said Egyptian exports to India amounted to $381 million, pointing out that Egypt is now one of the most important trade partners of India in western Asia.

The volume of Indian Investments in Egypt is estimated at $ 800 million, the ambassador noted, adding that the joint cooperation agreement recently signed between an Indian company and A-Nasr Company for mining to produce phosphoric acid and manufacture ammonia at investments of $700 million, is a clear evidence of the development of economic relations between the two countries.

The ambassador pointed to the cooperation between the two countries in the field of information technology, and small and medium sized projects, adding that an agreement for tourist cooperation has been signed between the two countries with a view to boosting bilateral cooperation and making use of Egypt's expertise in the field of tourism.