The meeting focused on exploring the feasibility of utilizing local currencies for trade settlements between Egypt and India. Minister Maait emphasized Egypt’s commitment to diversifying funding sources and venturing into new financial markets through innovative and sustainable instruments. He highlighted the potential for Egypt to tap into India’s financial markets, building upon the success of Egypt’s issuance of Panda bonds worth 3.5bn yuan in the Chinese market and Samurai bonds worth 75bn Japanese yen. The exchange of experiences in financial inclusion technology and India’s support for Egypt’s comprehensive health insurance project were also among the key topics discussed during the meeting. This bilateral engagement underscores Egypt’s and India’s shared commitment to strengthening economic collaboration and addressing global economic challenges through innovative and mutually beneficial partnerships.
