Egypt seeks to significantly boost trade with India, emphasizing the historical ties and potential for economic collaboration, particularly in food and energy security. El Khatib urged for tripling trade volumes while navigating the challenges of globalization and focusing on enhancing Africa’s trade efficiency.
Recently, Egypt’s Minister for Investment and Trade, El Khatib, highlighted the significant untapped potential of trade between Egypt and India. During an interview at the 2025 Raisina Dialogue, he emphasized the need for both nations to consider tripling or quadrupling their trade volume, rather than merely targeting modest increases. He asserted that economic growth is heavily reliant on robust trade and investment links.
El Khatib expressed pride in the historical ties between India and Egypt, remarking on the warmth he feels during visits to India. He acknowledged the current trade levels between the two countries as insufficient given their profound potential. He reiterated the vital importance of trade and investment, stating, “Trade and investment are the lifeblood of economies.”
In discussing areas for collaboration, El Khatib pointed to food and energy security as critical sectors. He shared Egypt’s ambition to become a leading green energy hub, intending to add significant renewable energy capacity by 2040. He noted, “Egypt has plenty of land, sunshine, and strong winds along the Red Sea,” indicating a favorable environment for sustainable energy initiatives.
Regarding the evolving world landscape marked by rising nationalist sentiment and protectionism, El Khatib acknowledged the shifts affecting globalization. He remarked on the need for Egypt to remain competitive and create an environment conducive for foreign investors. He explained the recent efforts to improve infrastructure, which have included substantial investments in new cities, roads, and energy projects.
While recognizing the turbulence within Africa, El Khatib maintained an optimistic view on the African Continental Free Trade Agreement (AfCFTA). He emphasized Egypt’s active involvement in multiple trade agreements that facilitate access to global markets. However, he also identified challenges such as high shipping costs and logistical shortcomings that hinder trade expansion across the continent.
El Khatib concluded by advocating for a balanced trade approach with Africa, stressing the necessity for industrialization efforts rather than solely relying on raw material exports. This perspective aims to foster a more robust and mutually beneficial trading environment between Egypt, India, and other African nations.
In summary, Egypt and India’s trade potential remains largely unrealized, calling for serious discussions on increasing trade volumes substantially. El Khatib’s remarks underline the importance of collaboration in key sectors such as food and energy security. As global dynamics shift towards protectionism, Egypt is dedicated to enhancing its competitiveness and infrastructure. Furthermore, while engaging with the AfCFTA, balanced trade practices are essential for sustainable development across Africa.
Original Source: www.firstpost.com
