The General Federation of Egyptian Chambers of Commerce ( FEDCOC), headed by Eng. Ibrahim Mahmoud El-Araby, organized the Egyptian-Indian Business Forum to discuss increasing trade and investment exchange between the two countries and reviewing investment and trade opportunities in the Egyptian market.
The forum came with the participation of a number of board members of FEDCOC and chairmen of Egyptian Chambers of Commerce, including Hassan Jaafar, Secretary General of the Federation of Chambers of Commerce and Chairman of the Beni Suef Chamber - Khaled Abu Al-Wafa, Chairman of the Sohag Chamber - Dr. Salah Al-Kamouni, Chairman of the Gharbia Chamber - Mohamed Imbabi, Chairman of the Giza Chamber - Anwar Rahim, Chairman of the Matrouh Chamber - Salah Fathi, Chairman of the Luxor Chamber - Ahmed Radi, Chairman of the Minya Chamber - Mohamed Shawky, Vice-Chairman of the Qena Chamber, and the two Vice-Chairman of Cairo Chamber Ahmed Al-Weisimy and Sameh Zaky, in the presence of a high-level Indian delegation headed by Ganapathi - Co-Chairman of the African Council of the Federation of Indian Chambers of Commerce and Industry and Chairman of Trigyn Technology Jayaraman - Head of the Indian side of the Egyptian-Indian Business Council.
In his speech, Khaled Abu Al-Wafa, Chairman of Sohag Chamber, welcomed the Indian delegation on behalf of Eng. Ibrahim Mahmoud Al-Arabi and emphasised the importance of fostering stronger economic and investment ties between the two nations at all levels, particularly the business community and private sector institutions. In order to promote these ties, members of the business and economic community try to increase the rate of trade exchange between the two nations, which in 2021 topped 6.26 billion dollars evenly between the two sides.
Abul-Wafa continued, "We hope to increase the amount of joint investments between the two nations, as the amount of Indian investments in Egypt is $3.5 billion, with more than 50 Indian companies operating in the fields of textiles, ready-made clothing, energy, chemicals, information technology, auto parts, and medical preparations. The most significant Egyptian investments in India are concentrated in the projects of El Sewedy Electrometer India Company for metre manufacturing and Capsi Paints Company, and we hope to achieve the highest levels of investment, growth, and cooperation.
