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India committed to take forward eco relations with Egypt: Envoy

Press Trust of India  |  Cairo 

is committed to take forward its economic relations with and Indian investments in the North African country is now over USD 3 billion, Indian to has said.

Addressing a seminar, organised as part of the mega cultural festival by the Nile, he said that Indian and Egyptian can work together and take the relationship forward.

"There are Indian investments with over over USD 3 billion in has been for a long time committed to the growth and development of the Egyptian market. And what we find today is that the existing investors are expanding their operations with new investments coming in," Bhattacharyya said yesterday.

Stressing that the 2015 and early 2016 was a difficult time for the economic sector in Egypt, the said, but after initiation of a reform process, not only by policy measures but also by legations, the economy has recovered.

"Through the efforts of policy and business, Egypt is becoming the fastest growing economy in the region. Egypt cannot be content with just the Egyptian market," he said, adding that if Egypt have to invest overseas, then India, a friend for 7,000 years, would be the best choice.

of said that the association, established in 1979, gives great attention to India.

He also added that a delegation from the association would be visiting India by the end of this year.

A number of businessmen, from the and officials also attended the seminar.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 15:15 IST