Exploit Egypt's location to access Europe, Middle East, Africa: envoy

17 Jun '21

2 min read

Pic: Shutterstock

Indian firms should take advantage of Egypt’s geographical location to access markets in Europe, the Middle East and Africa, according to Indian ambassador to Egypt Ajit Gupte, who recently told a virtual session of the 3P Egypt International Expo 2021 that Egypt is politically stable and has a liberal economy that has enabled the Indian industry to invest more than $3.15 billion there.

India has been one of the largest export destinations of Egypt and a big source for imports, he said, adding that an upsurge in the e-commerce segment and rising awareness of sustainable, biodegradable and recycling printing and packaging among Egyptians is also driving the growth of the printing, packaging and paper market.

The 3P Egypt Expo was a virtual international expo for paper, printing, packaging and plastics sectors scheduled from June 15 to 16 June.

India's top exported items to Egypt in recent years are petroleum products, cotton yarn, motor vehicles, processed minerals and buffalo meat, Sanjay Aggarwal, president of the PHD Chambers of Commerce and Industry of India (PHDCCI), was quoted as saying by a press release from the chamber.

India's top imports from Egypt are crude petroleum, manufactured and crude fertilizers and inorganic chemicals.

Aggarwal said Indian companies are operating in all major sectors of the Egyptian economy, including textiles and garments, power, chemicals including specialty chemicals, adhesives, pharmaceuticals, information technology, paints, consumer goods, healthcare, PVC, caustic soda, PET Resin, plastics, paper, packaging, auto, and auto-component and trading.

Fibre2Fashion News Desk (DS)

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