India-egypt bilateral trade set to reach $12b in next five years
Modi and Sisi express concern over disruptions to food supplies and other critical resources due to the war in Ukraine; both count r ies sign sever al deals
NEW DELHI: Prime Minister Narendra Modi on Wednesday said that India and Egypt have decided to elevate their bilateral relations to the level of a “strategic partnership.”
He further said that both the nations have decided to take bilateral trade to $12 billion in the next five years.
In his remarks ater discussions with visiting Egyptian President Abdel Fatah El Sisi, Modi said, “At one side of the Arabian Sea is India and on the other side is Egypt. Strategic cooperation between the two countries will help in promoting peace and prosperity in the entire region. So in today’s meeting, President Sisi and I decided to elevate our bilateral partnership to the level of ‘Strategic Partnership’. We have decided that under the India-egypt Strategic Partnership, we will develop a long-term framework of greater cooperation in political, security, economic and scientific fields.”
He said that both he and President Sisi closely observed the adverse effects on healthcare infrastructure and global supply chains during the COVID-19 pandemic.
“President Sisi and I have remained in close contact during this challenging period, and both countries have sent each other immediate assistance in times of need. Today, we have held extensive discussions on strengthening the food and pharma supply chains affected by COVID-19 and the Ukraine conflict. We also agreed on the need to increase mutual investment and trade in these areas,” modi said.
He also said that India and Egypt are worried about the spread of terrorism happening around the world.
“We are unanimous in the opinion that terrorism is the most serious security threat to humanity. Both countries also agree that concerted action is necessary to end cross-border terrorism. And for this, together we will continue to try to alert the international community,” the Indian prime minister said.
Modi further elaborated that “there is also immense potential for enhancing security and defence cooperation between us.”
“In the last few years, there has been a significant increase in joint exercise training and capacity building between our armies. We have also decided in today’s meeting to further strengthen cooperation between our defence industries, and enhance the exchange of information and intelligence related to counter-terrorism,” he said.
Modi said that during his meeting with the Egyptian President, the issue of misuse of cyber space to spread extremist ideologies and radicalisation was discussed, and therefore it was decided that both the countries would extend cooperation against this also.
Sisi, who arrived on Tuesday on a three-day official visit to India, would be the chief guest during the Republic Day function on Thursday.
Modi on Tuesday extended a warm welcome to Sisi, who is on a three-day state visit from Jan.24 to Jan.26.
“Warm welcome to India, President Abdel Fatah el-sisi. Your historic visit to India as Chief Guest for our Republic Day celebrations is a mater of immense happiness for all Indians. Look forward to our discussions tomorrow. @ Alsisiofficial,” Modi tweeted.
Sisi is accompanied by a high-level delegation, including five ministers and senior officials, sources said.
This is for the first time that a President of Egypt has been invited as the Republic Day ceremony’s chief guest.
A military contingent from the Egyptian Army will also participate in the Republic Day parade.
Sisi had earlier visited India in October 2015 to participate in the third India Africa Forum Summit and in September 2016 on a state visit.
India and Egypt are celebrating 75 years of establishment of diplomatic relations this year.
Egypt has also been invited as a ‘Guest Country’ during India’s G20 presidency in 2022-23.
External Affairs Minister S. Jaishankar was also scheduled to call on the visiting dignitary. official sources said.
Sisi was also scheduled to interact with the Indian business community at a business event during his visit.
The Indian and Egyptian armies are conducting their first ever joint exercise named ‘Exercise Cyclone-i’ at Jaisalmer in Rajasthan
The 14-day joint military exercise started on Jan.14.
The participants would undertake joint planning and drills for special forces operations in a mechanised warfare seting as well as surgical strikes on terrorist camps, hideouts to include sniping of high value targets, a Defence Ministry official said.
The India’s Defence Ministry said that the exercise aims to bolster defence co-operation between the two nations and focus on sharing professional skills and interoperability of special forces in desert terrain while undertaking counter terrorism, reconnaissance, raids and other special operations.
It said that the exercise ‘Cyclone - I’ is the first exercise of its kind bringing the special forces of both the nations on a common plaform.
India and Egypt agreed on Wednesday to boost trade between their countries during a visit by the Egyptian President Abdel Fatah Al Sisi that underscores Prime Minister Narendra Modi’s efforts to fortify ties with other emerging economies.
Modi and Sisi agreed on measures to increase two-way trade within five years to $12 billion. Trade totalled $7.3 billion in 2021-22. The two countries also signed agreements on expanding cooperation in cyber security, information technology, culture and broadcasting.
Modi and Sisi expressed concern over disruptions to food supplies and other critical resources due to the war in Ukraine.
Modi sought Egypt’s cooperation in fighting cross-border terrorism, extremism, and cyber threats.
Egypt’s economy has been strained by the pandemic and Russia’s war in Ukraine, which pushed prices for oil and other commodities to record highs.
One of the world’s biggest importers of wheat, it obtained help from the World Bank last year to finance its grain purchases as supplies from Ukraine were disrupted.
Imports from India, which made an exception for countries like Egypt facing severe shorfalls even as it banned most wheat exports, helped to bridge the gap.
India is among the top five importers of Egyptian products, including crude oil and liquefied natural gas, salt, coton, inorganic chemicals and oilseeds.
Major Indian exports to Egypt include coton yarn, coffee, herbs, tobacco, lentils, vehicle parts, ships, boats and electrical machinery.
Sisi invited Indian businesses to invest more in the Suez Canal Economic Zone.
More than 50 Indian companies have invested around $3.15 billion in various parts of the Egyptian economy, including chemicals, energy, textiles, garments, agri-business and retailing, according to India’s External Affairs Ministry.
India is the host country for the Group of 20 major economies this year and Modi has invited Sisi to atend as one of its special guests.
Sisi will be the chief guest at India’s Republic Day parade on Thursday marking the anniversary of the adoption of the country’s constitution on Jan.26, 1950. India won independence from British colonial rule in 1947.
Separately, Modi’s chadar was presented on Wednesday in the 811th Urs of Khwaja Saheb. National President of BJP Minority Morcha, Jamal Siddiqui reached Ajmer Dargah with a chadar from Delhi.
Ater presenting the chadar at the Dargah, Modi’s message was read out by the Sadar of the Dargah Commitee at the Buland Darwaza.
The prime minister said in his message, “On the occasion of 811th Urs of Khwaja Moinuddin Chishti, I pray for the country’s happiness and prosperity from Dargah Ajmer Sharif.” On Wednesday, on the occasion of 811th Urs of Khwaja Moinuddin Hasan Chishti, around 12.30pm, National President of BJP Minority Morcha Jamal Siddiqui along with BJP officials and workers reached Ajmer Dargah.
They were welcomed by the Dargah Committee at the main gate of the Dargah.
Later, everyone entered inside the dargah carrying the Prime Minister’s chadar in the police cordon and Modi’s chadar and flowers of devotion were presented.
By presenting the chadar, the BJP officials have prayed for maintaining peace and brotherhood in the country.
On the occasion, Ajmer MP Bhagirath Chowdhary, Deputy Mayor Neeraj Jain, State President of BJP Minority Morcha and many office-bearers and workers of BJP were present.
Ater presenting the chadar on the tomb of Khwaja Saheb, Modi’s message was read out by Sadar Shahid Hussain Rizvi of Dargah Commitee at Buland Darwaza.
The prime minister in his message said, “On the occasion of 811th Urs of Khwaja Moinuddin Chishti, greetings and best wishes to his followers across the world. I pay tribute to the great Sufi saint who gave the message of love, harmony and fraternity to the world by sending a chadar to Dargah Ajmer Sharif on the annual Urs. Harmonious co-existence of different creeds, beliefs and faiths in India is a rich heritage of our country.”