Egyptian President Abdel Fattah Al-Sisi said Egypt aims to increase bilateral trade with India to $12bn and attract more Indian investment in manufacturing, technology, clean energy, and the automotive industry, while separately urging Iran to help halt regional escalation and attacks on Arab states.
Al-Sisi made the remarks during meetings and events on the sidelines of the 18th BRICS summit in New Delhi, where he met Indian Prime Minister Narendra Modi and Iranian President Masoud Pezeshkian and addressed an expanded session of BRICS members and partner countries.
During talks with Modi, Al-Sisi called for concrete steps to deepen the strategic partnership established between Egypt and India in 2023, including raising bilateral trade to $12bn and increasing Indian investment in Egypt.
The two leaders identified renewable energy, green hydrogen, pharmaceuticals, information technology, manufacturing, and automotive production as areas for greater cooperation, the Egyptian presidency said.
Al-Sisi highlighted Egypt’s strategic location, free trade agreements, and incentives offered by the Suez Canal Economic Zone as advantages for Indian investors.
Modi said his government would encourage Indian companies to expand their investments in Egypt and explore new opportunities, according to the presidency. No new investment commitments or financial agreements were announced following the talks.
In a separate meeting with Iranian President Masoud Pezeshkian, Al-Sisi urged Tehran to make every possible effort to halt the escalation and work towards a comprehensive and sustainable peaceful settlement to the regional crisis.
The president also called for an end to attacks on Arab states, saying that de-escalation should safeguard the sovereignty of countries in the region and uphold the principles of good-neighbourly relations.
The Egyptian presidency did not provide details of Pezeshkian’s response or announce any specific agreement resulting from the meeting.
Addressing an open BRICS session, Al-Sisi called for increased trade, investment, and joint projects among member and partner countries, as well as greater access to concessional financing for developing economies.
He said the New Development Bank should play a larger role in financing infrastructure and development projects as emerging economies face pressures from food and energy insecurity and supply-chain disruptions.
Al-Sisi also called for deeper cooperation in artificial intelligence, innovation, technology transfer and localisation, clean and renewable energy, and investment in young people and future technologies.
He highlighted Egypt’s expansion of ports, transport links, and logistics infrastructure, saying the Suez Canal placed the country at the centre of efforts to maintain resilient global trade and supply chains.
Al-Sisi said BRICS cooperation should move beyond agreed priorities towards specific projects, investments, and partnerships in energy, food, transport, logistics, technology, and investment.
