Egypt, a country linking northeast Africa with the Middle East, dates to the time of the pharaohs. Millennia-old monuments sit along the fertile Nile River Valley, including Giza’s colossal Pyramids and Great Sphinx as well as Luxor’s hieroglyph-lined Karnak Temple and Valley of the Kings tombs.
India and Egypt are two of the oldest civilizations. Long known for its pyramids, Egypt is the largest Arab country and one of India’s most important trading partners in the African continent.
Cairo is the capital city of Egypt. Located on the banks of Nile river, Cairo is Africa’s largest city and a large destination for the tourists.
Cairo and Alexandria are the most important commercial centers. Most of the importers, exporters, and wholesalers have offices in one or both of these cities.
The currency is Egyptian pound and Arabic is the spoken language.
Egypt has been a member of WTO since June 1995 and a member of GATT since May 1970.
Important Sectors
Few of the important sectors are textiles, the largest industrial employer. Chemicals (fertilizers, polymers and petrochemicals), food processing, cement and light consumer goods.
Greater Cairo, Alexandria and Helwan are Egypt’s main industrial centres producing iron and steel, textiles, refined petroleum products, electronics, chemicals etc.
Small & Medium Enterprises
Small and medium industries in Egypt represent the key for the development of the national economy. SMEs represent 95% to 99% of the total industrial enterprises.
The Egyptian government has been trying to provide all possible facilities to the SME sectors.
Industrial Clusters
The Industrial Development Authority (IDA) at the Egyptian Ministry of Industry has announced plans to build 21 specialised industrial clusters for small- and medium- industries
The clusters for furnishings, readymade garments, handicrafts and hand-made carpets will be located in the governorates of Kafr El Sheikh, Marsa Matrouh, Aswan and Red Sea. Cluster for home appliances will be located in the Tenth of Ramadan City. Cluster for vehicles components and metal industries will be located in Assiut. The food sector will be located at Kafr El Sheikh. clusters for marble and building materials located in Alexandria (Southern Margham district) cluster for aluminum and utensils will be located in Dakahlia (Gamasa city). Clusters for electronic industries and software located in Alexandria.
Spare parts cluster for heavy duty transportation will be located in Kafr El Sheikh and Ismailia. Clusters for engineering goods and petrochemicals will located in Alexandria.
India’s exports to Egypt
The top five Indian exports during FY 2014-15 were mineral fuels, meat, vehicles and parts, cotton yarn and organic chemicals,
India’s imports from Egypt
Top five Indian imports were crude petroleum, rock phosphate, inorganic chemicals, cotton and fruits.
Indian companies in Egypt
There are over 50 companies functioning in Egypt. Some of them are :-
Some of the major Indian investments in Egypt include TCI Sanmar, Alexandria Carbon Black, the Alexandria Fibre Co., Dabur India’s production facility for its cosmetics line, Egypt-India Polyester Company (EIPET) for manufacture of PET Resin, SCIB Paints, etc. The Oberoi Group – hotel and runs Nile cruises; Kirloskar Brothers sells diesel engines and irrigation pump sets in Egypt; Ashok Leyland, Tata Motors, Maruti Suzuki and Mahindra & Mahindra market their vehicles in Egypt, and Bajaj Auto dominates the three-wheelers market. Indian Public Sector Undertakings like Gas Authority of India Ltd, ONGC Videsh Ltd (OVL)., Gujarat State Petroleum Corporation (GSPC) also have a presence in Egypt. Indian companies also execute projects in railway signaling, pollution control including air pollution equipment, water treatment, irrigation, anti-collision devices etc.
Important Trade Organisations in Egypt
Trade Statistics
The total bilateral trade increased almost 60% from US$ 3 billion in 2009-10 to US$ 4.89 billion in 2014-15. India is the sixth largest trading partner of Egypt – the third largest export destination and eleventh largest import source for Egypt. India’s imports from Egypt were worth US$ 1.89 billion during FY 2014-15. Indian exports to Egypt during FY 2014-15 have been recorded at US$ 3 billion.
India’s imports from Egypt were worth US$ 1.89 billion during FY 2014-15. Indian exports to Egypt during FY 2014-15 have been recorded at US$ 3 billion.
(Source Indian Embassy/MEA)
