Egypt and India will strengthen their ties with the Suez Zone

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In a joint India-Egypt statement released on Thursday, he later expressed exploration of the possibility of allocating land to Indian Industries in the Suez Canal Economic Zone.

The statement also said that “the Indian side can organize the master plan.” Amid the ongoing visit of Egyptian President Abdel Fattah El-Sisi, Egypt continued to take center stage in the 2020 Republic Day Parade3. The two nations have also reaffirmed their commitment to the founding values ​​of the Movement of Non-Aligned Countries (NAM).

Egyptian President Adbel Fattah El-Sisi and Prime Minister Narendra Modi discussed a wide range of topics and issues related to bilateral, regional and global affairs on Wednesday.

An engineering marvel and a globally significant route for countries to easily trade around the world, the Suez Canal connects the Mediterranean Sea with the Red Sea. It is one of the largest trade routes in the world. As of now, the trade route is essential to keep alive about 12 percent of the world trade that passes through it each day.

The joint statement also stated India’s commitment to encourage companies to explore their investment potential abroad and also utilize the investment opportunities present in Egypt.

“In this context, the Egyptian side considers the possibility of allocating a special area of ​​land for Indian industries in the Suez Canal Economic Zone (SCEZ), and the Indian side can organize the master plan,” he said.

The Suez Canal is of significant importance to Indian trade. According to a report, out of the total 4.8 million barrels per day of crude oil shipped and transported through the canal, 500,000 barrels per day of crude are shipped to India.

He also added that the two countries reaffirmed their commitment to multilateralism, the principles of the UN Charter, international law, etc.

‘Zero tolerance’ for terrorism

India and Egypt also pledged to nurture their cultural and social ties by working to promote and safeguard the basic principles through regular consultations and bilateral and multilateral coordination. The two nations expressed concern about terrorism spreading its claws in the world. The two leaders criticized the use of terrorism as a foreign policy tool and called for “zero tolerance” for terrorism.

“They also called on all countries to work to eradicate terrorist networks and their safe havens, infrastructure, their financing channels, and prevent cross-border movements of terrorists,” the statement added.

The statement also reported on the plan to hold regular meetings of the joint counter-terrorism task force to exchange information and best practices.

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