Earlier in the week, Prime Minister Narendra Modi met with Egyptian President Abdel Fattah Sisi in New Delhi. The Egyptian leader came to India on an official visit in the company of a high-level delegation, which includes Foreign MInister Sameh Shoukry, Energy Minister Mohamed El-Markabi and other senior Egyptian officials.
"The two leaders agreed to expand cooperation in the field of space by utilizing India's expertise in building and launching satellites and space technology applications. They considered strengthening cooperation in space research in areas such as remote sensing, satellite communication, space science, and practical applications of space technology," a statement released by the ministry read.
At the meeting, both Modi and Sisi praised the current state of economic ties between the countries, which continue to deepen despite challenges posed by the COVID-19 pandemic. The mutual trade between India and Egypt totaled $7.26 billion in 2021-2022, the ministry said.
"They [the leaders] expressed confidence that a bilateral trade target of US$ 12 billion could be achieved within the next five years by both countries, by diversifying the trade basket and focusing on value addition," the statement added.
The leaders of Egypt and India also agreed to develop defense cooperation by further exchanging military technologies and conducting joint exercises.