Egypt’s FM highlights $12B trade target with India in meeting with Modi

NEW DELHI – 14 May 2026: Foreign Minister Badr Abdelatty highlighted the objective to boost trade exchange with India to $12 billion over the coming five years as he met on Thursday with Indian Prime Minister Narendra Modi.

The meeting involved foreign ministers of the BRICS and partner countries on the sidelines of a meeting for the bloc’s foreign ministers in New Delhi.

BRICS is an intergovernmental bloc of major emerging economies and developing countries, originally founded by Brazil, China, India and Russia, and later expanded to include seven additional members to date, including Egypt.

 

Egypt and India aim to double their trade exchange to $12 billion, a target previously underscored by the two countries’ leaders.

Moreover, Egypt and India eye inking a trade agreement to use their respective local currencies in their bilateral trade, India’s Ambassador to Cairo Suresh Reddy told Al Arabiya Business on Monday.

The step, Reddy said, aligns with the BRICS’ broader direction toward reducing reliance on the US dollar in intra-group transactions and increasing the use of national currencies.

During his meeting with Modi, Abdelatty highlighted economic reforms implemented by the Egyptian government in recent years during his meeting with Modi.

He underscored various monetary policy measures and the adoption of a flexible exchange rate system, which have helped improve economic performance, boost Egypt’s credit rating and strengthen the investment climate.

Abdelatty underscored Egypt’s interest in expanding cooperation with India in the fields of economy, trade and investment.

Their talks also addressed cooperation on international connectivity and trade corridors, particularly in light of Egypt’s advanced infrastructure linking the Red Sea and the Mediterranean, as well as the strategic role of the Suez Canal in global trade.

Abdelatty conveyed greetings from Egyptian President Abdel Fattah El-Sisi to Modi and expressed appreciation for the significant progress in bilateral ties, highlighted by high-level visits and the elevation of relations to a strategic partnership.

Middle East Tensions

Regional developments were also discussed, with Abdelatty reviewing Egypt’s efforts to reduce tensions and contain escalation in the Middle East.

He stressed the importance of diplomatic and negotiated solutions to regional crises in support of regional and international security and stability.

Foreign ministers or their representatives from BRICS countries opened a two-day meeting in New Delhi amid ongoing global tensions and subsequent economic challenges. Read more about the meeting.

On the Palestinian cause, the foreign minister stressed the importance of continuing implementation of the second phase of the US president’s plan.

He highlighted the objective of reaching a just and comprehensive settlement of the Palestinian cause.

Abdelatty called for ensuring the unrestricted delivery of humanitarian, relief and medical aid to the Gaza Strip to help ease the humanitarian crisis and pave the way for early recovery and reconstruction.

He also emphasized the need to enable the Palestinian national committee to carry out its responsibilities.

For his part, Modi asked Abdelatty to convey his greetings and appreciation to El-Sisi, praising the Egyptian president’s wisdom in handling complex regional challenges.

The Indian prime minister also affirmed his country’s pride in its close friendship and strategic partnership with Egypt and commended Egypt’s efforts to support peace, security and stability in the Middle East.