Egypt’s Minister for Investment, El Khatib, asserts that trade between India and Egypt is underdeveloped and aims to significantly increase it. He highlights collaboration in food and energy sectors, particularly renewable energy. El Khatib also discusses the challenges of globalization and emphasizes Egypt’s commitment to competitiveness and infrastructural development. Furthermore, he expresses optimism about trade relations within Africa despite existing logistical barriers.
Egypt’s Minister for Investment and Trade, El Khatib, expressed the potential for increased trade between India and Egypt, stating that current trade levels are significantly below expectations. During an interview with Mihir Swarup Sharma at the 2025 Raisina Dialogue, he emphasized the need for an ambitious target to triple or quadruple trade volumes rather than just a modest increase of 10-20%. He underscored that “trade and investment are the lifeblood of economies.”
El Khatib highlighted food and energy security as key areas for collaboration between the two nations. He stated, “Egypt aspires to become a green energy hub,” aiming to add 65 GW of energy capacity by 2040 with a significant portion derived from renewable sources. He noted Egypt’s advantages, such as abundant land and favorable weather conditions, which could enhance their green hydrogen production once pricing issues are resolved.
In discussing Egypt’s position in the shifting global landscape, El Khatib remarked on the decline of traditional globalization, stating, “Globalization, as we’ve lived it for the past three to four decades, is fading away.” He pointed to a resurgence of nationalism and protectionism, especially in the wake of events during President Trump’s administration and current trends in Europe.
El Khatib articulated Egypt’s commitment to enhancing its competitiveness within a challenging regional environment, aiming to foster a business-friendly atmosphere to attract foreign direct investment. Following the nation’s revolutionary upheavals, Egypt has significantly invested in infrastructure development, including transportation networks and renewable energy projects, to stimulate economic growth.
Despite obstacles within Africa, El Khatib conveyed optimism about trade opportunities, referencing the African Continental Free Trade Agreement and other regional pacts. However, he noted transportation and logistical challenges that hinder trade and emphasized the need for balanced trade, expressing that it is crucial for Africa to focus on industrialization rather than relying solely on raw material exports.
In summary, Egypt and India are poised to enhance their trade relationship, with a focus on ambitious growth targets. The Egyptian government, under Minister El Khatib, is strategically positioning itself as a competitive player in the global market while emphasizing the importance of food and energy security. Additionally, the country is addressing infrastructural needs within Africa to promote balanced trade. El Khatib’s insights reflect a forward-thinking approach toward international cooperation and economic development.
Original Source: www.firstpost.com
