Trade bonds between Egypt, Turkey appear very strong
Date
11/10/2024 6:04:44 AM
(MENAFN) Egypt’s trade ties with Turkey are “very robust and balanced,” indicating a good economic collaboration among both countries, based on Hassan El-Khatib, who is the Egyptian Minister of investment and Foreign Trade.
Egypt as well as Turkey “have highly diversified exports, which strengthen their trade relationship,” Khatib stated in a meeting with a Turkish news agency.
He also pointed out that “Türkiye is the first export destination to Egypt globally and Egypt is one of Türkiye’s most significant trade partners in Africa, while Türkiye is the top export destination for Egyptian goods.”
Khatib tripped to Turkey to join the launch session of the 4oth Ministerial Conference for Trade Ministers of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (OIC).
The goal of his discussions in Turkey is to discover ways to strengthen trade and investment bonds amog Ankara and Cairo.
Based on the minister, the two-sided trade rate reached USD6.9 billion in the previous year, with Egypt’s shipments at USD3.6 billion and imports from Turkey totaling USD3.3 billion.
By the end of the year, he stated, the trade rate might become USD8 billion.
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