India, Egypt identify international trade settlement, digital payments as focus areas

New Delhi: India and Egypt have identified international trade settlement and digital payments, trade and investment in the Suez Canal Economic Zone (SCEZ), and transport and trade disputes as areas of focus, the government said Thursday after the sixth Session of India-Egypt Joint Trade Committee (JTC).

New Delhi also said that necessary approvals for signing the MoU on cooperation between National Small Industries Corporation (NSIC) of India and MSME Development Agency (MSMEDA) of Egypt have been obtained.

Pharmaceuticals and health sector, gems & jewelry, engineering goods, petroleum and mining, MSME Sector, customs matters, services sector, IT services, electronics manufacturing, apparel manufacturing, renewable energy – green hydrogen and

food security were the other identified areas of focus.

“Both sides also discussed market access issues on agricultural products and agreed to resolve the issues as early as possible,” the commerce and industry ministry said in a statement, adding that they also agreed on closer collaboration between their respective Investment Promotion Agencies.

There was a positive response towards greater cooperation, addressing pending issues, and increasing trade and investment.

Besides agreeing to address all issues impeding bilateral trade expeditiously and facilitate trade promotion between the two countries and to hold the next meeting of the JTC in 2026, in Egypt, they also reviewed the bilateral trade and agreed on exploring new areas of cooperation, diversifying the bilateral trade basket, and resolution of issues hindering trade between the two countries.