The Egyptian Foreign Ministry regretted in a statement the accident, after leaving Libya on its way to Europe.
The Egyptian embassy in Athens is presently monitoring the situation 24/7 and is being in close contact with the Greek authorities in this regard.
We reaffirm our condemnation of the illegal human trafficking and organized gangs abusing some seeking for better chance for life and work, the text said.
The Foreign Ministry assured Egypt has recently clapped down on human trafficking crime.
Once again, we offer our sincere condolences to relatives of the victims, it said.
Greek authorities estimate that hundreds of migrants were on board as it capsized on Tuesday about 80 kilometers from the city of Pylos, located in the southern Peloponnese peninsula.
At least 79 people died in the incident.