Egypt seeks to sign double taxation avoidance pact with India

Egypt has shown interest in signing a double taxation avoidance agreement with India for which it would hold talks with the Indian government shortly.

"We are looking to sign a few agreements with India, one is the double taxation avoidance agreement. Next month, we are going to meet in Egypt as a part of the joint trade committee. The last meet was held in New Delhi," Ambassador of Egypt to India Hatem Tageldin said here today.

The Egyptian envoy said the country was also looking at Indian hospitals to set up units in Egypt.

A number of Egyptian patients come to India for treatment.

"We are talking to some Indian hospitals here for setting up units there. We want Indian medical expertise, Indian doctors and Indian nurses to go there", he said.

Talking about two-way trade, he said that current volume was $5 billion.

There has also been a surge of Indian outbound tourists to Egypt after the Arab Spring which created political unrest in that country.

"Politically, we are now stable," he said.

A member of UN Security Council and also of the international alliance against ISIS, Egypt had received investments from Indian companies, he said, adding more companies should go and set up units there along the Suez Canal Corridor.