Negotiations underway to establish joint Arab-Indian chamber

CAIRO – 10 March 2018: Negotiations are underway to establish a joint Arab-Indian chamber, a statement from the Union of Arab Chambers said Saturday.

This came during a meeting of a delegation compromising Kamal Hassan Ali, Assistant Secretary General of the Arab League and Khaled Hanafy, Secretary General of Union of Arab Chambers, with a number of Indian private sector companies in New Delhi.

The meeting aimed at starting the negotiations as well as enhancing trade between India and the Arab world and transferring Indian technology and expertise to Arab states.

Egypt Ambassador to India Hatem Tageldin briefed the delegation on the profound relations between India and Egypt and the keenness of political administrations at both sides to enhance political and economic relations between India and Egypt.

He said that India has achieved big economic growth that surpassed seven percent for consecutive years, adding that the challenges facing both states are similar and that Egypt can benefit from India’s experience in overcoming these challenges.

President Abdel Fatah al-Sisi visited India in September 2016 on an invitation by Indian President Pranab Mukherjee.
Bilateral trade between Egypt and India has grown significantly in the past five years, reaching $3.5 billion from April 2015 to March 2016, according to the embassy of India in Egypt.

The top five Egyptian exports to India are meat, cars, cotton yarn, machinery and mineral fuels / oil, while top five Indian exports to Egypt are mineral fuels, mineral products, raw cotton, electrical machinery and agricultural products.

There are 50 Indian companies operating in Egypt with a combined investment of roughly $3 billion, according to the embassy.