CAIRO, Oct 12 (MENA) – Egypt’s Ambassador to Ankara Wael Badawi underlined the importance of the visit by Chairman of the Suez Canal Economic Zone (SCZone) Walid Gamal al-Din to the Turkish industrial cities of Istanbul and Bursa.
Egypt’s Commercial Office in Istanbul organized the visit in coordination with the Egyptian Embassy in Ankara, according to a statement released Sunday.
During the visit, the SCZone chief met with the Turkish Exporters Association for Yarn and Textiles, whose annual production amounts to around $80 billion and exports reach $15 billion.
He also met with the board of the Independent Industrialists and Businessmen’s Association (MÜSİAD), which encompasses about 60,000 companies contributing nearly 20 percent of Turkey’s economy.
Badawi said the SCZone’s promotional visit provided an important opportunity to showcase the investment incentives and advantages offered by the economic zone, including low production and energy costs and broad export potential to foreign markets linked to Egypt through free trade agreements.
He noted that the Turkish companies the delegation met with expressed strong interest in maintaining contact with the SCZone to continue exploring potential investment opportunities.
The delegation also met with several major Turkish companies operating in different domains, including pharmaceuticals, chemicals, textiles, ready-made garments, packaging materials, paper and plastics, petrochemicals, ceramics, construction materials, automotive components, household appliances, and maritime transport.
The visit included field tours of several Turkish factories in these industries.
The visit concluded with the signing of an agreement to establish a Turkish plastics factory in the Qantara area on a 100,000-square-meter site, expected to create around 700 jobs. The facility will be the first recycling plant of its kind in the area. (MENA)
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