“Excellent Relations, $12B Trade Target by 2030": Governor of Assiut Province, Egypt at PHDCCI B2B Summit

Mumbai, Dec 10

In a landmark event today, the Interactive Session and B2B Meet with the esteemed Egyptian delegation highlighted a powerful convergence of trade ambitions and partnership opportunities between India and Egypt. Serving as a high-impact platform, the gathering brought together leading industry players, innovators, and policymakers to engage in meaningful discussions aimed at expanding bilateral trade and deepening economic cooperation. The event underscored the potential for transformative business collaborations across diverse sectors, positioning both countries to capitalize on emerging market partnership.

Major General Dr. Hisham Abu Al-Nasr, Governor of Assiut Province, Egypt, expressed delight at the PHDCCI’s event, emphasizing the robust cooperation and excellent ties between Egypt and India. He referenced the strategic partnership signed by Prime Minister Modi during his Egypt visit, which aims to elevate bilateral trade to $12 billion by 2030. The Governor highlighted this visit by the Assiut government, first in a series with Egyptian business leaders, as a key step to boost trade coordination, following fruitful interactions with Indian associations and industrial federations, with expectations of strong bilateral discussions yielding tangible results for the Egyptian delegation and PHDCCI.

Kamel Zayed, Ambassador, Embassy of Egypt, New Delhi, underscored the commitment to transforming the strategic partnership established in June 2023 between President Abdul Fattah al-Sisi and Prime Minister Modi into tangible outcomes. He highlighted the ambitious goal of scaling bilateral trade from the current $3.7 billion annually to $12 billion within a few years, spotlighting this Assiut government-led visit to forge collaborations in trade and investment with Indian firms. Noting the vast potential between India's $4 trillion economy and Egypt's $400 billion GDP, he urged participants to explore mutual opportunities far beyond existing trade levels.

Dr. Ranjit Singh, Chair, Taskforce on Paints and Coatings, PHDCCI, conveyed sincere gratitude to the Governor, esteemed delegation, Ambassador, trustees, participants, and the International Affairs Division of PHDCCI for their vibrant engagement and open discussions. He emphasized how their presence enriched the program, creating valuable opportunities for bilateral trade and cooperation between Egypt and India.

Naveen Seth, Deputy Secretary General, PHDCCI, warmly welcomed His Excellency Ambassador of Egypt to India, and Honorable Major General, Governor of Assiut Province, along with their business delegation at the PHD Chamber House. He highlighted Egypt's strategic role as a gateway to Africa and a vital link between the Middle East and Europe, noting the remarkable momentum in India-Egypt bilateral relations across political, economic, and cultural domains. Mr. Seth emphasized the delegation's representation of key sectors including garments, textiles, furniture, jewelry, food and agri-products, recycling, medical supplies, metal and door manufacturing, real estate development, urban projects, education and programming, and industries and technical equipment- areas ripe for complementary collaborations through trade, investment, joint ventures, and technology partnerships, with PHDCCI committed to fostering these bridges for long-term economic ties.

The discussions concluded on an optimistic note, with both sides expressing a firm resolve to accelerate joint ventures and investment initiatives. Stakeholders emphasized the strategic importance of this engagement in fostering sustainable growth, technology exchange, and shared prosperity. As these promising dialogues translate into actionable partnerships, the session marks a significant milestone in strengthening the commercial bridge between India and Egypt, reinforcing their commitment to a future defined by innovation and mutual success.