The Head of the Egyptian Commercial Representation and Minister Plenipotentiary for Trade Abdel-Aziz al-Sherif, affirmed that trade and investment relations between Egypt and Turkey are undergoing a massive leap towards strategic cooperation.
Sherif added that the total value of Turkish investments in Egypt has reached approximately four billion dollars, while the volume of trade exchange has reached nearly US$10 billion, making Turkey the second largest recipient of Egyptian exports.
Trade and investment relations between Egypt and Turkey are supported by the significant momentum generated by the high-level official visits exchanged between the leaders of the two countries over the past year, he explained.
Under a joint coordination program between the Egyptian Commercial Representation and the General Authority for the Suez Canal Economic Zone, the Egyptian Commercial Office in Istanbul headed by Minister Plenipotentiary for Trade Ali Pasha, organized a visit program for the Authority’s delegation headed by the Chairman of the General Authority for the Suez Canal Economic Zone to Turkey from September 29 to October 2.
The promotional program included several high-level events and meetings, including a visit to the headquarters of the Turkish textile and yarn exporters association and a roundtable discussion with the association’s president and major member companies, along with the garment accessories manufacturers association.
Investment opportunities in SCZone were discussed, as it is one of the most promising destinations for the garment and textile sector.
The Egyptian delegation also visited the Independent Industrialists’ and Businessmen’s Association, and a roundtable discussion was held with member companies from several industrial sectors to discuss further investment opportunities.
Eighteen bilateral meetings were also held between the Authority’s Chairman and heads and representatives of Turkish companies in the sectors of yarns and textiles, home appliances, building materials, construction chemicals, plastic packaging, healthcare industries, fast-moving consumer goods, packaging materials, carpets, optics, furniture, automotive components, wind turbine blades, and pharmaceuticals.
Several of these companies expressed serious interest in establishing investment projects in Egypt.
Edited translation from Al-Masry Al-Youm
Turkish investments in Egypt rise up to US$4 billion: Official Egypt Independent.
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