Egypt's Sisi travels to India as part of an investment push

Egypt’s Sisi travels to India as part of an investment push

Web Desk

24th Jan, 2023. 03:03 pm
Share

President Abdel Fattah al-Sisi arrives in India on Wednesday.
He will meet business leaders.
Trip will include discussions on strengthening economic relations between the two countries.

Cairo: Egyptian President Abdel Fattah al-Sisi arrives in India on Wednesday, where he will meet business leaders and be a guest of honor at India’s Republic Day on January 26.

The trip will include discussions on strengthening economic relations between the two countries and reviewing opportunities for Indian investment in Egypt, a statement from the Egyptian presidency said.

Egypt is trying to drum up foreign investment as it tries to manage a dollar shortage that has led to a sharp depreciation of the Egyptian pound.

After the economic fallout from Ukraine’s war exacerbated its underlying problems, it sought assistance from energy-rich Gulf allies and the International Monetary Fund last year.

Cairo has also sought to expand its political and economic ties beyond its traditional alliances with the US and European powers, including in Sub-Saharan Africa and Asia.