Egyptian Minister of Trade and Industry Rasheed Mohamed Rasheed said during a meeting of the joint business council, that there are available investment opportunities, boosting economic cooperation with India, especially through trade exchange or joint investments.

Rasheed said India is a promising market for Egyptian exports and is one of the most important emerging economies in the world in view of its huge economic potentials.

For his part, Indian Ambassador in Cairo R. Swaminathan, who attended the meeting, said activating the council's role will contribute to boost trade and investments between the two sides.

The volume of trade exchange between Egypt and India rose up to $857.5 million in the period from January to March, 2010 against $672.8 million in the same period in 2009.

Egyptian exports to India stood at $487.2 million while Egyptian imports are estimated at $370.3 million. Indian investments in Egypt reached about LE550 million.

On the other hand, Rasheed noted that he will visit India in mid- December leading a business delegation to activate economic cooperation and enhance bilateral ties.

Global Arab Network