India Information, Delhi: (India-Egypt Summit) Egyptian President Abdul Fateh el-Sisi will meet Prime Minister Narendra Modi at this time at his Hyderabad Home in Delhi for bilateral talks forward of the Republic Day. Al-Sisi will suggest to PM Modi to do enterprise within the native foreign money between the 2 international locations. Allow us to inform you that at present the monetary situation of Egypt could be very dangerous and its overseas alternate reserves are additionally reducing. Beneath such circumstances, doing enterprise in native foreign money between the 2 international locations proved to be appropriate for Egypt.
About half a dozen agreements shall be signed
It stated he’ll first maintain talks with Prime Minister Modi and official bilateral talks shall be held shortly thereafter. After that, a joint assertion shall be given from each international locations and in line with the data obtained, about half a dozen agreements shall be signed.
Protection cooperation between the 2 international locations is vital
The 2 international locations have set a bilateral commerce goal of USD 12 billion in 2026-2027. Indian corporations have additionally invested $3.3 billion in Egypt. Clarify that Egypt can also be increasing the Suez Canal and India can also be trying to spend money on it. It stated that protection cooperation would even be of nice significance within the dialogue between the 2 international locations. For the primary time this yr, navy workouts will happen between three armies of India and Egypt.
The President of Egypt is the chief visitor on the Republic Day
Egyptian President Abdul Fateh El-Sisi shall be invited as chief visitor to India’s 74th Republic Day celebrations on January 26, 2023. That is the primary time that an Egyptian president has been invited as chief visitor for Republic Day .