LOC14:21
11:21 GMT
NEW DELHI, March 19 (KUNA) -- Egyptian President Mohamed Morsi arrived
Tuesday in New Delhi to sign several agreements with India aimed at fomenting
business and economic ties between both countries.
President Morsi is on a South Asia tour that began with a visit to Pakistan
earlier on Monday.
On Tuesday morning, President Morsi, who was given a ceremonial welcome and
reception in the Rashtrapati Bhavan (Presidents Enclave) met Prime Minister
Manmohan Singh with several other strong business groups.
Morsi who has also brought a strong business delegation, signed agreements
to promote cooperation in two-wheelers, shipping, investment, information
technology, small industries, electronic industries and science and technology.
This is his first visit to India after Egypts uprising overthrew former
President Hosni Mubarak in February 2011. Since then Egypt has been facing
sharp economic downturn even as the country is striving to restore investors
confidence.
After meeting the Egyptian president, an official statement released to
media quoting Prime Minister Manmohan Singh said, "We have agreed that
information technology, services, electronics, small and medium enterprises,
manufacturing, fertilizers, and renewable energy constitute important areas of
cooperation. Egypts location, as a bridge between Asia and Africa, astride a
major global trade route, together with its skilled human resources, makes it
an attractive business destination for India."
Singh also appreciated Egypts role in "in trying to forge unity between
the Palestinian groups and work towards a peaceful resolution of this long
standing issue."
India is Egypts seventh biggest trading partner and Mori is looking
towards strong Indian support in his dream project the Al Nahda, which he had
presented during the elections in Egypt.
This project covers aspects like upholding values of democracy, social
justice and civil society organisations, trade unions and syndicates. In all
these sectors, India has exceptional experience.
Earlier on Tuesday, the foreign ministry spokesman Syed Akbaruddin told
reporters that the bilateral trade between the two countries totals usd 5.5
billion and "we hope to carry this forward."
While Egypt aims to construct projects including development of Suez Canal
axis, the country is looking forward to an investment of around US 200
billion. Egypt also aims to construct a Silicon Valley in Sinai Peninsula and
since India is advanced in IT, Morsi is looking forward to benefit from it.
Morsi is scheduled to attend the Brazil-Russia-India-China-South Africa
(BRICS) conference soon and since Egypt wishes to join the organization of
five world giants to make it E-BRICS, Morsi is believed to be seeking Indian
support for it. (end)
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KUNA 191421 Mar 13NNNN