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Egypt wants to learn from Indian IT success

Egypt is keen to benefit from the Indian experience in information technology.

In remarks carried by the Middle East News Agency, the Indian ambassador to Egypt, Satnam Jit Singh, was quoted as saying that the two countries were giving priority to cooperation in IT.

Singh said an Egyptian delegation visited India in May to discuss co-operation in the software industry and the establishment of technology parks. He indicated that both sides are discussing these matters.

He said India had a number of investments in Egypt because of that country's geographical position.

Singh said Egyptian ministers in charge of the economic sector were expected to visit India in the coming weeks to discuss more co-operation. He said there were many proposals to set up joint ventures that would crystallize soon.

He expressed New Delhi's readiness to transfer its experience in IT to Egypt.

Bilateral trade between the two countries touched $500 million, and the Indian investment in Egypt is about $300 million. This is likely to soar to $1 billion in the near future.

In July a delegation from the Federation of Engineering Industries of India visited Egypt.

During its stay, the team discussed new proposals for investment in Egypt in the areas of fertilisers and industrial consumables like graphite electrodes.

In February, Indian External Affairs Minister Jaswant Singh visited Egypt to attend a joint commission where the two countries agreed to double bilateral trade by 2005. Currently bilateral trade stands at a little over $500 million.

Egypt has traditionally been one of India's most important trading partners in Africa. In the Middle East, it still occupies an important place though Gulf countries have overtaken it.

Indo-Asian news Service

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