Egypt and India closer to a free trade agreement
Tania Sengupta
Apr. 15, 2008

After the US, Italy, China and the Arab League, India is the largest trading partner of Egypt. Egypt is eyeing taking advantage of India’s high tech specially software area. A free trade agreement will benefit both India and Egypt.

India is the first Asian country with which is Egypt is proposing a bilateral agreement on trade.

The whole thing started when Rachid, a former director with Unilever, was the first technocrat to be inducted into Egypt’s council of ministers by President Hosni Mubarak, four years ago. He is widely viewed as a rising star in Egypt especially in the eyes of Mubarak and is very favorably disposed towards India.

Rachid is aiming “for a much higher level of bilateral engagement” by as soon as the end of this year. Focus areas would be oil and gas, petrochemicals, renewable energy, fertilisers, pharmaceuticals, manufacturing, steel, auto components, building materials and the tourism and hospitality sector. “Even though most of the present trade is in raw materials, oil and natural gas, it shows we have a good platform to build on,” Rashid said. “We share very good political relations and there are very good relations between the people, making for a high comfort level and environment for business. Also, we offer some unique advantages,” Rachid said.

Egypt and India closer to a free trade agreement
Tania Sengupta
After the US, Italy, China and the Arab League, India is the largest trading partner of Egypt. Egypt is eyeing taking advantage of India’s high tech specially software area. A free trade agreement will benefit both India and Egypt.
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