Egypt, India ink MoUs in many areas including ICT, cybersecurity

Egypt and India signed several memoranda of understanding covering the areas of ICT, cybersecurity, youths and sports, broadcast, and culture.

The MoUs were signed on the sidelines of President El-Sisi’s three-day visit to India to participate for the first time ever in the South Asian country’s 74th Republic Day celebrations, Egypt’s Presidential office indicated Wednesday.

At a joint news conference following their talks, President El-Sisi and Indian Prime Minister Narendra Modi  have both expressed desire to enhance bilateral ties at various levels and maximize trade between the two countries.

“I have also emphasized to the Prime Minister the need to establish regular channels that would allow the sharing of expertise and knowledge with regard to successful experiments and initiatives in the two countries, particularly in developing local industries and small-and medium-sized enterprises (SMEs),” El-Sisi.

Modi on his part voiced India’s aspiration to consolidate bilateral ties at various levels, and involve Indian companies in the implementation of mega projects in Egypt. The Indian leader hinted that the agreements will increase Egyptian-Indian trade exchange to $12 billion annually.

The volume of trade exchanges between Egypt and India during the first 10 months of 2022 amounted to $5.2 billion, marking a 20.8% increase, according to data from the Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS).