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Egypt, Türkiye Aim to Strengthen Trade Ties
(MENAFN) Egypt and Türkiye have reached an agreement to collaborate in enhancing bilateral trade and attracting more Turkish investments, with the goal of achieving mutual benefits, Egyptian President Abdel Fattah al-Sisi stated on Wednesday evening.
Sisi made these comments during the closing session of the Türkiye–Egypt Business Forum, held in Cairo, which was attended by Turkish President Recep Tayyip Erdogan, high-ranking officials, and business leaders from both nations.
The Egyptian president conveyed his “deep appreciation for the business communities in the two countries,” highlighting their success in recent years in driving economic and trade cooperation forward. He noted that these efforts reflect the robustness of ties and shared interests between Egypt and Türkiye.
He emphasized that strong economic foundations, coupled with geographic and cultural closeness, political commitment, and the proactive role of the business community, have allowed both nations to achieve “unprecedented levels” of trade and investment collaboration.
According to Sisi, bilateral trade currently stands at approximately $9 billion, with ambitions to increase it to $15 billion or higher, positioning Egypt as Türkiye’s primary trading partner in Africa, while Türkiye remains among the top destinations for Egyptian exports.
He further stated that Turkish investments in Egypt have surpassed $4 billion.
Commemorating 100 years since the establishment of diplomatic relations between the two countries, Sisi noted that his discussions with Erdogan revealed a broad agreement that the full potential of cooperation “has not yet been fully utilized.”
Sisi made these comments during the closing session of the Türkiye–Egypt Business Forum, held in Cairo, which was attended by Turkish President Recep Tayyip Erdogan, high-ranking officials, and business leaders from both nations.
The Egyptian president conveyed his “deep appreciation for the business communities in the two countries,” highlighting their success in recent years in driving economic and trade cooperation forward. He noted that these efforts reflect the robustness of ties and shared interests between Egypt and Türkiye.
He emphasized that strong economic foundations, coupled with geographic and cultural closeness, political commitment, and the proactive role of the business community, have allowed both nations to achieve “unprecedented levels” of trade and investment collaboration.
According to Sisi, bilateral trade currently stands at approximately $9 billion, with ambitions to increase it to $15 billion or higher, positioning Egypt as Türkiye’s primary trading partner in Africa, while Türkiye remains among the top destinations for Egyptian exports.
He further stated that Turkish investments in Egypt have surpassed $4 billion.
Commemorating 100 years since the establishment of diplomatic relations between the two countries, Sisi noted that his discussions with Erdogan revealed a broad agreement that the full potential of cooperation “has not yet been fully utilized.”
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