Egypt seeks to enhance cooperation with India in financial inclusion, fintech

Minister of Finance Mohamed Maait has said that Egypt now possesses the qualifications to attract domestic and foreign investments, including an advanced infrastructure, and more stimulating opportunities for production in various sectors of a high national priority such as agriculture, industry, oil and natural gas, electricity, new and renewable energy, communications and technology information.

During his meeting with Indian Ambassador in Cairo Ajit Jubete, Maait stressed Egypt’s keenness to enhance cooperation and exchange experiences with the Indian side in the fields of financial inclusion and financial technology, especially that the trade and economic relations between the two countries witnessed great development over the past years. In addition, Indian companies have become among the largest foreign investors in Egypt.

He added that Indian companies can utilize the advantages granted by the Suez Canal Economic Zone, and make the best use of Egypt’s strategic location, as a hub for production and re-export of products to various countries of the world, namely African and European countries, in a way that contributes to strengthening economic cooperation between the two friendly countries, in the face of global challenges.

The Minister of Finance expressed his appreciation for India’s invitation to Egypt as a guest of honor at the G20 finance ministers’ meetings, pointing out that this invitation reflects the depth of the Egyptian-Indian relations. “We look forward to developing those relations in light of the common will to raise them to the strategic level,” he added.