Cairo [Egypt], October 16 (ANI): Egyptian President Abdel Fattah El-Sisi urged India to increase the turnover of trade and also said that the current revenue was not enough, External Affairs Minister S Jaishankar stated. Addressing the India-Egypt Business Forum, Jaishankar said “I had the honor to call on the President. Our two colleagues spoke referring to a trade turnover of a certain point to billion dollars. Presidency Sisi told me he doesn’t think it’s enough. So, he urged us, saying, find ways of increasing it.”

Jaishankar further said that one of the ways to expand in business is to focus on the impediments.
“See what are the market access issues that we both faced? Look at the possibilities of investments which could either go which has production implications for third countries and other regions or even by-back prosperities,” Jaishankar said during the meeting. Talking about the wheat agreement that took place between India and Egypt, Jaishankar said, “This year, is the first year after a gap or perhaps the first year ever that Egypt has bought wheat from India. But unfortunately, for us, it turned out to be a difficult year weather-wise for agriculture, and therefore some value substantial initial supply was not something we could continue.”

Jaishankar also said that there is a lesson that for Egypt sourcing from India is de-risking of food supply which was otherwise very, very dependent on very narrow geographies.” Jaishankar, who is on a two-day official trip to Egypt for his first bilateral visit, held discussions with Egyptian President Abdel Fattah El-Sisi today and highlighted India’s commitment to the success of COP27 under the Egyptian presidency.

External Affairs Minister Jaishankar underscored that India values the participation of Egypt in the G20 during its chairship. He further underlined that India is fully committed to the success of COP27 under the Egyptian presidency. “Honoured to call on President Abdel Fattah El-Sisi of Egypt,” Jaishankar, who is on a two-day visit to Egypt, tweeted. Jaishankar conveyed greetings of Prime Minister Narendra Modi to the Egyptian President and handed him a personal message.

The EAM deeply appreciated President Sisi’s guidance in further developing various dimensions of the India-Egypt relationship. Minister Jaishankar briefed the President on his discussions with finance minister Sameh Shoukry. “As independent-minded nations, India and Egypt contribute to global discourse. And promote the cause of peace, progress, and development,” Jaishankar added in his tweet.

Jaishankar on Saturday said that he will talk to the Union Minister for Education, Skill and Entrepreneurship Dharmendra Pradhan about collaborating with Egypt on premier higher educational institutes, like the Indian Institute of Technology (IIT). (ANI)

“I see world of possibilities…” Jaishankar on Indian companies coming to Egypt

Cairo [Egypt], October 17 (ANI): External Affairs Minister S Jaishankar on Sunday reposed faith in Egypt’s credibility highlighting the fact that many well-known Indian companies were coming to invest in the country.

Addressing the India-Egypt Business Forum, Jaishankar said, “Well-reputed Indian companies are coming out to a destination like Egypt, assessing the possibilities here favorably. I think this says a lot about our companies and your credibility as an investment destination. I see a world of possibilities here.”

Meanwhile, Egyptian President Abdel Fattah El-Sisi urged India to increase the turnover of trade and also said that the current revenue was not enough. “I had the honour to call on the President (Abdel Fattah El-Sisi). Our two colleagues spoke referring to a trade turnover of 7.2 billion dollars. President Sisi told me he doesn’t think it’s enough. So, he urged us, saying, find ways of increasing it,” said EAM Jaishankar.

Talking about the wheat agreement that took place between India and Egypt, Jaishankar said, “This year, is the first year after a gap or perhaps the first year ever that Egypt has bought wheat from India. But unfortunately, for us, it turned out to be a difficult year weather-wise for agriculture and therefore some substantial initial supply was not something we could continue.”

Due to the conflict between Russia and Ukraine, Egypt faced a shortage of wheat, which is imported from these two countries for 80 per cent of its needs. India was added to the list of accredited nations that can supply Egypt with wheat on April 14, 2022, ending a long-standing Non-Tariff Barrier.
Egypt has contracted to buy 180,000 tonnes of wheat from India, a deal that is part of the country’s efforts to diversify its wheat supplies.

In May that Egypt had agreed to buy 500,000 tonnes of wheat from India but that a contract had not been signed. India banned wheat exports in May because of lower domestic production, but made allowances for countries like Egypt with food security needs. “But there is a lesson that for Egypt sourcing from India is de-risking of food supply which was otherwise very, very dependent on very narrow geographies,” said Jaishankar in Cairo.

He also highlighted climate change which is acting as the biggest disruptive factor and emphasized on increase in natural disasters in the Indian subcontinent and urged for sustainable solutions. “I spoke about climate change as a seriously disruptive factor. In the Indian subcontinent, we are seeing floods, heatwaves and cold on a scale which we haven’t experienced before… Sustainable solutions are not going to come only out of conferences,” said Jaishankar.

Speaking about globalisation, he said that it has inherent risks which must be addressed by like-minded countries. “It’s very intense globalisation. A globalisation that carries huge opportunities but also has inherent risks which must be addressed by like-minded countries, comfortable countries, getting together and doing more with each other,” said Jaishankar. (ANI)