India's ambassador in Cairo notes investment opportunities with Egypt

Shief Shankar Makargi, India's new ambassador in Cairo, expressed his country's hope to realize the anticipated visit by Egyptian President Hosni Mubarak to India, adding that communications are currently being made to determine the date of the visit.

The Indian ambassador said that there are great opportunities for joint cooperation between Egypt and India in fields of investment, economics, trade and peaceful uses of nuclear energy.

The volume of commercial exchange between the two countries is $500 million annually.

India's ambassador in Cairo criticized the attempt made by the U.S. to convince his country to sign an agreement not to deploy nuclear weapons, and he asked to apply the agreement on the whole world without exception. He stated that commercial exchange bwetween India and the US is $12 billion.