Ties ‘very robust, balanced,’ says Egyptian official

ANKARA

Egypt’s trade relations with Türkiye are “very robust and balanced,” reflecting a healthy economic partnership between the two countries, says Egyptian Investment and Foreign Trade Minister Hassan El-Khatib.

Egypt and Türkiye “have highly diversified exports, which strengthen their trade relationship,” Khatib told state-run Anadolu Agency.

“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,” he added.

Khatib was in Türkiye to attend the opening session of the 40th Ministerial Conference for Trade Ministers of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (OIC).

His talks in Türkiye focused on exploring ways to strengthen trade and investment relations between Ankara and Cairo.

He stated that the bilateral trade volume reached $6.9 billion in 2023 and could rise to $8 billion by the end of the year.

In September, Egyptian President Abdel Fattah al-Sisi paid a landmark visit to Ankara following a visit by President Recep Tayyip Erdoğan to Cairo in February.

During the visit, the two leaders signed 17 new agreements to enhance bilateral cooperation, especially in the fields of trade and investment.

Khatib called the mutual declaration a “turning point towards building a new chapter for cooperation between Egypt and Türkiye.”

Khatib said both Egypt and Türkiye have “very good potential” for growth in the fields of chemicals, petrochemicals, textiles, apparel, automotive, furniture, building materials, pharmaceuticals and medical supplies.