India is Egypt's 10th largest export destination and also the 10th largest import source and hence Egypt is keen on boosting economic cooperation with India specially in developing small and medium enterprises.
According to Minister of Trade and Industry Tarek Kabil, there are possibilities to enhance bilateral cooperation in key areas like textile, leather and automobile sector.
His remarks came during a meeting with Tamil Nadu's Minister of Rural Industries P Benjamin who is here leading the Indian delegation participating in the MACTECH Fair in the Cairo International Convention Centre from November 16-19.
India's Ambassador to Egypt Sanjay Bhattacharyya said that both the sides discussed possibilities of technology and investment cooperation in textiles and leather sectors.
Bhattacharyya said that India's participation with 50 companies at MACTECH Fair was with the objective of showcasing their strengths as their advantages lie in high quality, affordable prices and efficient utilisation of labour. They also wish to increase exports and also look for opportunities for joint ventures.
The delegation from the Engineering Export Promotion Council of India (EEPC India) comprises 50 leading Indian machine tools and technology firms. The Indian Pavilion is organised by the EEPC, the premier trade and investment promotion group in engineering sector sponsored by the Ministry of Commerce and Industry, Government of India, in association with the Embassy of India in Cairo.
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