Egypt for Free Trade Agreement with India

NEW DELHI: Egypt on Tuesday said that it will explore the possibility of a free trade agreement with India to boost trade and investment between the two countries.

Informing this in India, Egyptian Minister of Trade and Industry, Rachid Mohamed Rachid, said at a CII meeting "An FTA could be the best move to boost trade and investment; this is what we will discuss with India” Rachid would be meeting Commerce and Industry Minister Kamal Nath Tuesday and discuss the possibilities of India-Egypt free trade agreement with him, he said. He said if not an FTA, the two countries should have a framework agreement in trade and investment to cater to the need of both sides.

Bilateral trade between India and Egypt currently stands at around 3 billion dollars.

Inviting Indian companies to explore partnership in Egypt`s steel sector, Rachid said companies like Tata and Essar have shown interest in the sector in the country. Besides improving connectivity between major cities of India and Egypt.

Source: Punjab News line Network