FEDCOC: Bilateral Trade between Egypt, India Grew by 60%

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Wednesday - 27 July 2022

Eng. Ibrahim El-Araby, President of the General Federation of Egyptian Chambers of Commerce (FEDCOC) and President of the Federation of African Chambers stressed the strength of bilateral relations between Egypt and friendly India at all levels, whether political or economic.

He added that such strong relations are the main support and incentive to work to achieve communication and success, and are the main driver of support for bilateral relations between businessmen in the two countries, which were behind the great development movement in trade and economic relations during the past year.

El-Araby affirmed that inter-trade witnessed an increase of about 60% during the year 2021 compared to the volume of intra-regional trade during the year 2020, and the total trade exchange between the two countries is estimated at about $ 6.272 billion in 2021 compared to $3.917 billion in 2020.

According to El-Araby, Egypt’s exports to India represent 7.4% of the total value of Egyptian exports to the world.

About 450 Indian companies operate in the Egyptian market with a total investment value of about $3 billion, in the fields of textiles, ready-made clothes, energy, and chemicals Information technology, auto parts, and medical preparations.