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MY LIFE (After
the Navy)
IN A CONCH SHELL
William
(Biff) Hawke
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Egyptian President's Visit
Old Friends Decide to Intensify
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INDIA EGYPT JOINT BUSINESS GROUP
An Indo-Egypt Joint Business Group (IEJBG) was formed in October 1997 at the instance of the then Prime Ministers of India and Egypt to increase economic and industrial cooperation between the two countries with involvement of private sectors.
The IEJBG which enjoys support of the Ministry of External Affairs, Government of India and the Ministry of International Cooperation, Government of Egypt, has held three meetings so far, one in Cairo in 1999 , the second in Bangalore in January, 2002 and latest being in December 2004 at New Delhi. |
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Egyptian President Hosni Mubarak paid a four-day visit to India from November 16, 2008. He was given a ceremonial welcome at the Rashtrapati Bhavan before the official talks started. “My current visit to India gives a new, strong momentum to our historic relations and partnership,” President Hosni Mubarak told the Indian hosts.
Mrs. Suzanne Mubarak accompanied the President. Others in the delegation included Foreign Minister Ahmed Abul-Gheit, Minister of Trade Rachid Mohamed Rachid, Minister of Communications and Information Technology Tarek Kamel and Minister of Information Anas El-Fiqi.
India and Egypt are co-founders of the Non-Aligned Movement NAM). Both sides are keen to transform their ties into a strategic partnership. The visit saw the signing of five pacts, including an Extradition treaty and a joint announcement to combat terrorism.
Talks
Manmohan Singh and Mubarak held “productive and fruitful” talks on a wide range of bilateral, regional and global issues, including terrorism, the intensification of economic ties, food and energy security, global financial crisis and peace process in the Middle East. “We have agreed to make up for lost time, and to elevate our relations to a level that reflects our mutual strengths and complemen-tarities,” the Prime Minister said.
Mubarak thanked India for its “key role” in the security of the Middle East and appreciated New Delhi’s support for the Palestinian cause. Mubarak, who has ruled Egypt for nearly three decades, invited Manmohan Singh to visit his country and announced that Cairo will be hosting the 15th Non-Aligned Movement summit next year.
Economic Ties
Trade and commerce will be the bedrock of the new and improved ties with Egypt. India is looking for new markets hoping to stave off a long slowdown. India and Egypt have set a target of US$10 billion in bilateral trade by 2010, up from the current level of US$3 billion.
Five Agreements
India and Egypt signed five agreements including an extradition treaty and one on cooperation in outer space and a MoU for cooperation in trade and economic fields. The two sides signed another agreement to do away with visa requirements for diplomats and officials. Another MoU on increasing links in health and medicine was also signed.
It was decided to hold a strategic dialogue at the level of foreign ministers.
The focus of Mubarak’s visit was to intensify strategic and economic cooperation with India. The two countries are old friends and founders of the non-aligned movement and South-South cooperation. Mubarak is visiting India after 25 years.
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The conferment of the Jawaharlal Nehru for International Understanding on Mubarak was the high point of the visit.
Mohammed Hosny Mubarak addressed an industry conclave organized by three leading apex bodies – FICCI, CII and Assocham – in New Delhi. He said, “We have all what it takes to give a renewed momentum to our strategic partnership and all what it takes to bring our trade and investments to new horizons, especially in the important fields of ICT, energy and industry.”
Mubarak said the trade between India and Egypt had tripled in the last 4 years reaching about US$3.5 million in 2007. “We have managed to diversify our trade to cover a wide range of goods and I am sure there is room for further expansion”, he said adding that Indian direct investments in Egypt stood at around US$800 million in more than 200 Egyptian companies. “The potential is there for these investments to reach US$2 billion in the coming few years. Such Indian investments cover a wide range of areas in industry, services, ICT, construction, financing, agriculture, oil and gas as well as tourism”, the Egyptian President said.
The President lured the Indian investors by saying that Egypt had become a hub in West Asia and the Arab world. Through trade agreements with the European Union and COMESA, Egypt had become an important gateway to the vast European and African markets and an attractive destination for foreign direct investment.
Speaking on the occasion, the Indian minister for commerce and industry Kamal Nath emphasized the need for closer trade and economic ties between India and Egypt
Nath identified possible areas for cooperation such as steel, construction, tractors and agricultural equipment, pumps and diesel engines, pharmaceuticals, tourism, auto components, information technology, phosphatic and nitrogen fertilizers, hotel management, textiles, biotechnology and use of natural gas in cars. He noted that Egypt had traditionally been one of India’s most important trading partners in the African continent and Egypt alone accounted for almost 40 percent of India’s trade with northern Africa.
The Indian minister welcomed the Egyptian proposal for establishing an Indian Industrial Zone in Egypt exclusively for Indian companies. He further added that Egypt’s strategic location would be India’s gateway to the 20-member Common Market for Eastern and Southern Africa (COMESA), the 27-nation European Union and the Arab Free Trade Area.
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