Egypt is India's valued strategic partner: EAM Jaishankar

New Delhi: The economic cooperation between India and Egypt has been steadily diversifying, with both sides seeking new opportunities to expand the engagement, External Affairs Minister S Jaishankar said on Monday.

In an address at an event, he said more than 50 Indian companies have already invested in various sectors of the Egyptian economy, with pharmaceuticals, electronics and green energy being focus sectors.

Jaishankar described Egypt as an "important and valued strategic partner" of India.

"Our economic cooperation has been steadily diversifying, with both sides seeking new opportunities for mutual benefit," he said.

"Our IT industry too has been establishing partnerships that we hope to see grow in the times ahead. Egypt has also opened up as a market for our agro-exports, notably that of wheat," he added.

The external affairs minister was speaking at the event hosted by the Egyptian embassy to celebrate the country's 'National Day'.

"Our defence collaboration has also grown in this very period. Since 2021, our Air Forces have held regular exercises bilaterally as well as in a larger format," he said.

"Our Special Forces too are conducting their own exercises, most recently in January of this year. There are frequent and regular visits to Egyptian ports of Indian naval ships," Jaishankar said.

"And our defence industries are refreshing an old tradition through new activities and collaboration," he added.

Jaishankar said India and Egypt have been working closely in world affairs as well.

"We appreciated that Egypt participated in the G20 during the Indian presidency. India also strongly supported Egypt's membership of the BRICS. We value our collaboration in the context of the India-Africa Forum Summit process," he said.