Want to see Egypt as hub of Indian exports to Africa: Mohamed Morsihttps://indianexpress.com/article/news-archive/web/want-to-see-egypt-as-hub-of-indian-exports-to-africa-mohamed-morsi/

Want to see Egypt as hub of Indian exports to Africa: Mohamed Morsi

India and Egypt agreed to deepen their cooperation across the full spectrum of their relationship.

India and Egypt today agreed to deepen their cooperation across the full spectrum of their relationship,especially in areas such as information technology,services,electronics,small and medium enterprises,manufacturing,fertilisers and renewable energy.

During talks between Prime Minister Manmohan Singh and Egyptian President Mohamed Morsi here,the two sides also agreed to foster productive partnerships in socio-economic development programmes,skill development,higher education,agriculture and health care. The two countries signed seven key pacts including one on cyber security

Morsi said he wanted Egypt to become the “hub of Indian exports to Africa” and his visit has a “vast horizon” and it was important for Egypt.

“We have also agreed to enhance our defence exchanges and cooperation,” the Prime Minister said at a joint media interaction with Dr Morsi after their talks.

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Underlining that India and Egypt have enormous potential for deepening cooperation across the full spectrum of ties,Singh said economic partnership has “rich possibilities”.

“We agreed that information technology,services,electronics,small and medium enterprises,manufacturing,fertilisers,and renewable energy constitute important areas of cooperation.”

According to Singh the two sides agreed that the two countries had enormous potential for deepening their cooperation. “Egypt’s location,as a bridge between Asia and Africa,astride a major global trade route,together with its skilled human resources,makes it an attractive business destination for India.”

On the agreements inked,Singh said that they were a clear manifestation of their desire to impart a new dynamism to their relationship.

The seven agreements signed included an MoU in the field of cyber security,setting up of a Centre for Excellence in IT (CEIT) in Egypt’s Al Azhar University,cooperation in the field of protection of intellectual property rights and prevention of illicit traffic of antiquities besides others.

A letter of Intent concerning launch services of the Egyptian Nano Satellite EGYCUBESAT-1 on board the Indian Polar Satellite Launch Vehicle (PSLV),was signed between Antrix Corporation,the commercial wing of Indian Space Research Organisation (ISRO),and the Egyptian National Authority for Remote Sensing and Space Sciences (NARSS).

Trade in Indian two-wheelers,petrochemicals,biotechnology,information technology,healthcare products and other goods will all be discussed,according to officials.

While the current bilateral trade stands at about $ 5.5 billion, the visiting Egyptian leader said he would like to see it double in the next “few” years.

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Mursi is leading a high-level delegation of business leaders and ministers,including the ministers of communications,information technology,trade,commerce and investment. And will also address a meeting of leading Indian businessmen to woo investments on Wednesday. India is Egypt’s seventh largest trading partner and second largest source of its exports.