Indian investments in Egypt worth $231 million

A delegation of Indian businessmen is to arrive on Friday in Cairo for a five-day visit to take part in the first meeting of the Indian - Egyptian works council on May 17.

A press statement released by India's embassy in Cairo said the prime ministers of Egypt and India decided to establish this joint council in October 1997 in order to advance economic and trade relations between the two countries.

The statement also said the participants in this meeting will work on establishing a work plan to encourage the trade exchange and investment between them.

India occupies the 12th position among the most important investing countries in Egypt where the volume of its investments amounts to $231 million. The volume of trade exchange between the two countries amounts to $245 million.