During an exclusive interview with the Indian newspaper Hindustan Times, Egypt's Ambassador to India, Wael Mohamed Awad, explained the strong ties between Egypt and India. He stated that "for India, the relationship with Egypt is very clear.
The security of the Indian Ocean is closely linked to the security of the Red Sea, and for Egypt, the security of the Suez Canal is part of the security of the Red Sea, which is closely interconnected."
He added that "from an economic perspective, I always say that this is one of the neglected areas for a long time. If you look at the map, you will find that Egypt is exactly in the middle of the ports in western India and Europe.
Through transit to or presence in Egypt, economic actors or investors will reduce shipping, fuel, and insurance costs. It will also reduce time, which is very important."
He further explained that "in the last two years, we have seen that international supply chains have become very difficult and time-sensitive.
By being present in Egypt, you can respond to changes in supply chains, and thus, we offer India a very promising opportunity to take Egypt as a launching point to three regions - Europe, the Middle East, and the entire Africa."
When asked about the idea of Egypt offering a designated area within the economic zone of the Suez Canal, Wael said, "This is precisely the reason, and we are not only offering a location, but we are also offering existing facilities on the ground in the economic zone of the Suez Canal. We already have six ports in place, one of which is in East Port Said, one of the largest container terminals in the eastern Mediterranean."
He emphasized that Egypt is offering "an already established zone, with the necessary infrastructure and facilities that the industry needs, and we offer a lot of incentives. For these specific reasons, other countries have shown great interest in having an industrial zone in the Suez Canal. Russia and China are working with us on creating industrial zones, and I believe that India is in a position to have such an industrial zone, which will be very beneficial for both parties."
Wael also revealed that President Abdel Fattah el-Sisi proposed this idea during his recent visit to India. He added that "the Indian Prime Minister was very responsive to this, and we are currently discussing how things will move forward. Shortly before the Prime Minister's visit, we expect a visit from the head of the economic zone of the Suez Canal. He will be in Delhi and Mumbai and will discuss this matter. It is clear that the idea was very attractive to the Indian side, but we need more details."
The Egyptian ambassador also mentioned that during Modi's visit to Cairo, they expect to sign four or five agreements on agriculture, small and medium-sized enterprises, information technology, trade promotion, and culture. "This is a very important aspect of our relationship. We are also working on preparing a strategic partnership agreement, and we hope that it will be signed during the visit."
Follow the latest news on Google News
