As per new reports, there is a likelihood of India getting a dedicated industrial zone in Egypt’s Suez Canal Economic Zone. After bilateral talks with Egyptian President Abdel Fattah El-Sisi, Prime Minister, Narendra Modi said, “We have decided to take bilateral trade to $12 billion in next 5 years.” Currently, the trade between the two countries is around $7.2 billion.
President Abdel Fattah El-Sisi was the chief guest at the Republic Day Parade. He is the first Egyptian president to be the chief guest at Republic Day parade. The Egyptian President is in India from January 24-27.
The joint statement issued by both countries too indicated of the possibility of Egypt allocating a special area of land for the Indian industries in the Suez Canal Economic Zone.
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