India, Egypt Elevates Bilateral Ties To Strategic Partnership.

• Discussions on India-Egypt relationship were held during Egyptian President’s visit as a Chief Guest at India’s 74th Republic Day Celebrations.

Important outcomes

• Four elements of strategic partnership include political, defence and security; economic engagement; scientific and academic collaboration; and cultural and people-to-people contacts.
• Both sides signed five MoUs covering culture, cooperation on youth matters, cyber security, information and technology and public broadcasting.
• Both sides reiterated support for Non-Aligned Movement (NAM).India and Egypt are founding partners of NAM along with Yugoslavia, Ghana, and Indonesia.
• Egypt is considering designating a special area of land for Indian Industries at Suez Canal Economic Zone.
  • Suez Canal is one of the busiest commerce routes (facilitating 12% of world trade every day) in world, which links Red Sea and Mediterranean Sea.
  • It separates African continent from Asia and is the fastest crossing from Atlantic Ocean to Indian Ocean.
• Both sides called for ‘zero tolerance’ for terrorism.
• Both sides set a target of Increasing annual bilateral trade from S7 billion (2021-22) to $12 billion over next five years.