n an interview with IANS on the sidelines of the first India-Egypt Economic Forum on Wednesday, Saleh said : " We are proposing that India consider Egypt as the gateway to the African continent for deepening and increasing the benefits of an old relationship."
The inauguration of an India-Egypt Business Council organised by premier Indian industry bodies - FICCI, CII and Assocham - is a major step in this direction. Saleh is here as part of Egypt's General Authority for Investment and Free Zones mission visiting India with the country's first democratically elected President Mohamed Morsi.
The Egyptian minister is promoting his country as an investment destination at a time when India looks to make a quantum jump in its economic engagement with the continent, particularly with north and western Africa, as well as achieving the full potential of its business relations with Egypt.
"The levels of foreign direct investment (FDI) in Egypt has dropped from 25 percent to nine percent, especially in this period when the country is going through a political transition. Our aim is for FDI to pick up to levels of around 20 percent," said Saleh.
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