Egypt offers India exclusive zone along Suez Canal

[ek_indian]

Egypt offers India exclusive zone along Suez Canal

Sujay Mehdudia

CAIRO: In recognition of India’s growing role as an industrial and economic power, Egypt on Thursday offered to allow India to set up an “India Zone” along the Suez Canal development area. This was to create an India-specific industrial corridor for collaboration with Egyptian companies to capture the European and African markets.

This offer was made by Egyptian Prime Minister Ahmed Nazif to the visiting Commerce and Industry Minister Anand Sharma during their bilateral meeting here on Thursday morning.

“The Egyptian Prime Minister offered us to establish an India Zone in the Suez Canal Development Area. This is a very significant development as India is the first country to be offered such a big industrial initiative by the Egyptian government which indicates our closely knit ties with the people and the government of this country,” Mr. Sharma said during an interaction with journalists from India.

Mr. Sharma said this also spoke highly of India’s growing industrial clout and its capacity to emerge as a strong and reliable partner. “We will take up this initiative at the highest level and ensure that this initiative takes off as soon as possible.”

Interestingly, 35 per cent world’s trade passes through the Suez Canal and this offer could give tremendous opportunity to India to extend its reach to emerging markets in Africa and also Europe, he added.

Mr. Sharma said both India and Egypt felt the need for energising the economic engagement in the spirit of the South-South cooperation. Dr. Nazif acknowledged India’s growing role in multilateral affairs of the world and impressive economic growth. “It provided an opportunity to review the bilateral engagements. Our trade stands at $30 billion, including investments in the oil and gas sectors, automobiles, and major presence in the IT sector. We also agreed to expand economic engagement and partnership and work for greater synergy in third world initiatives,” Mr. Sharma said.

He also had a bilateral meeting with Egyptian Trade and Industry Minister Rachid Mohamed Rachid. Later, he addressed an informal WTO meeting of African countries and the India-Egypt Business Forum jointly organised by Confederation of Indian Industry.

The Hindu : National : Egypt offers India exclusive zone along Suez Canal

 

[ek_indian]

An interesting development I would say. What's your thought guys?

 

[rajeev]

An interesting development I would say. What's your thought guys?

I think this pretty good - economically and strategically. Economically, it give us cheaper ways to sell to Europe. Strategically, because we will have a friendly country in Middle-east and help us cozy with Saudi/Kuwait/Iran/UAE so that we can secure energy resources.

We should be careful not to get into crossfire between Israel-Palestine-Egypt-Syria friendship. We should try to friendly with everybody without offending anyone.

 

[ek_indian]

I think this pretty good - economically and strategically. Economically, it give us cheaper ways to sell to Europe. Strategically, because we will have a friendly country in Middle-east and help us cozy with Saudi/Kuwait/Iran/UAE so that we can secure energy resources.

Agreed.

We should be careful not to get into crossfire between Israel-Palestine-Egypt-Syria friendship. We should try to friendly with everybody without offending anyone.

We are master of the art. We are even accused of our evil diplomacy!!
We have very good relation with Palestine. Iran is also in the list of names. Article suggest that Egypt is also in the list of friendly countries. Not to talk about Isreal. Name any country whether it is KSA, UAE, Iraq, Iran, Isreal, Palestine etc. etc, we have good to very good relation with all of them.

About your doubts, I guess Indian foreign policy makers will take care of this. They have successfully done so far. There is no reason to think they can't do it more. They are even successful in being friends with mutual hostile nations (Isreal-Palestine, Iran-Isreal etc)...

 

[EjazR]

India-Egypt relations have been there from the beginning and India along with Egypt, Indonesia, Yugoslavia and Ghana was amongt he founding memebers of NAM. So this is quite natural in improving relations. IMO

 

[rajeev]

India-Egypt relations have been there from the beginning and India along with Egypt, Indonesia, Yugoslavia and Ghana was amongt he founding memebers of NAM. So this is quite natural in improving relations. IMO

Yes, agreed but we never got this prized offer from Egypt before.

 

[EjazR]

^^^Well we already have a US $30B relationship including oil which is quite big considering that our biggest trade partner is UAE with US$45B+

Egypt only recently started with the idea of SEZs, I would expect other countries like China e.t.c. to get these as well but looks like India got offered much earlier

 

[pmukherjee]

Egypt offers India exclusive zone along Suez Canal

Good, very very good. Following factors come to mind:-
1. Greater commercial involvement in Egypt implies bigger Indian foot prints in Africa (termed by many as the last frontier, after Antartica, so to say).
2. Egypt is the gateway to the lucrative Mediterranean. An entry point into Italy, Greece, Turkey, even France and Spain.
3. Egypt is also the gateway into the middle East.

Sans the shipping costs presently being incurred, Indian products will be extremely competitive in European, African or the mid-east markets.

All this is hypothetical ofcourse, till the fine print of the deal and its execution is known. But every which way one looks at it, it is good news for Indian business.

 

[Gideon]

We should be careful not to get into crossfire between Israel-Palestine-Egypt-Syria friendship. We should try to friendly with everybody without offending anyone.

Actually among the Arabs the Egyptians are quite friendly to Israel, second only to Jordan.
Also, I think it would be easier for India to trade with Israel and for Israel to trade through India !

 

[WarProfessor]

An interesting development I would say. What's your thought guys?

Interest sharing.

 

[SeaGull]

^^^
Prof > Its the tip of the bait - too hard to refuse.

A fantastic way to lose billions in investment after Egypt falls to the Islamic Brotherhood. After all it is the land of Dr. Ayman-al-Zawahari, remember.

 

[WarProfessor]

^^^
Prof > Its the tip of the bait - too hard to refuse.

A fantastic way to lose billions in investment after Egypt falls to the Islamic Brotherhood. After all it is the land of Dr. Ayman-al-Zawahari, remember.

What? I don't think its a trick. China must have orchestrated behind the scene. I think it's a good will for Egypt who is always a friend, and a good will to India who always seem to like to "compete" with China in Africa. China is not there to "colonize" Africa as most poeple would like to believe, and certainly don't have a problem if other forces would like to engage peacefully for the mutual benefit of themselves and Africans. So I believe. It might also have something to do with Saudi/India.

Now everything seems to point to the direction of Pak becoming the first prosperous Muslim country that would not reach her greatness only because she has a lot oil, but rather they would and can out of their own genius and hardworks.

Muslim brotherhood thing, I don't know. I don't believe China would take a stand on this issue rather leave it to Muslims how they would like it to be.

 

[SeaGull]

Oh no - no one is tricking anyone here. Egypt is sincere - India is sincere. And it is in both's interest to have this going
China has got nothing to do here but try ever harder to compete with another big rival - which again is so much of a good thing in this freemarket economy.
It just happens to be a trick by default - because there is no one after Hosni Mubarak to hold on to the present
structure that keeps Egypt going.
The Brotherhood is an old struggle that is against the dictatorial rule in Egypt and does have a popular support among the people - so there is always a chance that the Brotherhood may yet get on top of the situation after
Hosni Mubarak goes.
But then the Indian Govt wud have factored in the risks before setting its foot there.

 

[WarProfessor]

Oh no - no one is tricking anyone here. Egypt is sincere - India is sincere. And it is in both's interest to have this going
China has got nothing to do here but try ever harder to compete with another big rival - which again is so much of a good thing in this freemarket economy.
It just happens to be a trick by default - because there is no one after Hosni Mubarak to hold on to the present
structure that keeps Egypt going.
The Brotherhood is an old struggle that is against the dictatorial rule in Egypt and does have a popular support among the people - so there is always a chance that the Brotherhood may yet get on top of the situation after
Hosni Mubarak goes.
But then the Indian Govt wud have factored in the risks before setting its foot there.

You beat me there bro. I must confess I don't have much knowledge about Egypt or the sentiment about Muslim brotherhood thing.
I know my buddy Omar1984 is for it, and there are posts in this forum seems to suggest Pak development first, then the brotherhood later. But I think it's safe to say for me the future and destiny of Pakistan must be decided by all Pakistani.

 

[EjazR]

^^^
Prof > Its the tip of the bait - too hard to refuse.

A fantastic way to lose billions in investment after Egypt falls to the Islamic Brotherhood. After all it is the land of Dr. Ayman-al-Zawahari, remember.

Well Egypt is hardly going to fall to Iqwaan group (aka muslim brotherhood: this is just a group that has similar ideology to Jamaat Islaami in Pakistan)

Zawahiri hates the Iqwaan because he believes that they are traitors. That's why he ran away from Egypt and went to Afghanistan