Egypt-Turkey relations: Extended economic partnership, tremendous investment opportunities

The visit of Turkish President Recep Tayyip Erdogan to Egypt gives a new impetus to enhancing economic cooperation and trade exchange between both countries, especially since they are linked with distinguished historical economic relations.

 

According to official Egyptian data, Turkey is the first market for Egyptian exports, and that economic relations between the two countries have witnessed great activity recently at all levels, which has been reflected in the growth of the volume of trade and investment.

 

The latest Egyptian Commercial Representation reports show that Turkish investments are among the most important foreign investments in Egypt, and that Turkish companies are among the largest foreign companies contributing to Egyptian exports, whether to Turkey, the European Union, or the United States.

 

Minister of Trade and Industry Ahmed Samir said, "The recent period has witnessed a great movement and demand from Turkish investors to pump new investments into the Egyptian market, especially in light of the recent boom in bilateral relations between the two countries and the activity of mutual official visits between officials of the two countries."

 

He added that Turkish investments are geographically widespread in Egypt, and are also present at the level of medium and small projects, and investments are in industrial sectors in which Turkish companies excel, which contributed to the transfer of technology, industrial and marketing knowledge to Egypt, and the diversification of investments in various sectors.