CAIRO: An Egyptian delegation is set to join an international forum for small and medium-size enterprises (SMEs) in New Delhi entitled “Global SME Business Summit 2014″ from Oct. 8-9, Al-Masry Al-Youm reported Tuesday.
Mohammed Daoud, head of the delegation, said that through attending the forum the delegation aims to open “new horizons of mutual cooperation” and boost exports.
In cooperation with the Federation of Indian Chambers of Commerce and Industry (FICCI), the Egyptian Commercial Office in India is also organizing an annual joint forum entitled “Emerging Business Opportunities in Egypt” to discuss Egyptian investment opportunities in fertilizers, financial services, agriculture and engineering industries with the Indian business community, Daoud said.
Bilateral trade and investment between Egypt and India has bloomed in the past four years, now registering $5 billion compared with $3 billion in 2010. Egyptian exports to India have surged in value to $2.3 billion in 2014 compared to $1.6 billion in 2010, according to the Egyptian State Information Service (SIS). Petroleum products, cotton, phosphates, coke, leather and lead top Egyptian exports to India.
In return, India has invested around $2.5 billion in Egypt, largely in textiles, SMEs and industry.