Monitoring Desk
CAIRO: Egyptian President Abdel Fattah al-Sisi begins a visit to India on Wednesday. He will meet business leaders in New Delhi and be a guest of honour at the Republic Day parade.
The visit will include discussions on strengthening economic ties between the two countries and deliberation over opportunities for Indian investment in Egypt, according to a statement issued by the Egyptian presidency.
Egypt is trying to boost foreign investment to manage a dollar shortage. The dollar shortage has led to a sharp depreciation of the Egyptian pound.
Egypt seeking help to overcome economic challenges
Last year Egypt sought help from energy-rich Gulf allies and the International Monetary Fund (IMF) after the economic fallout from the Ukraine war exacerbated its underlying challenges.
Egypt has also sought to forge trade and political ties beyond its traditional alliances with the United States (US) and European powers, including in Asia and sub-Saharan Africa.
