RIYADH: Egypt and Turkiye have decided to work together to raise the amount of trade between the two countries from about $9 billion to $15 billion by 2028. This includes working together on exploration and development projects in the mining and hydrocarbons industries, as well as in transportation and the car industry.
Egyptian President Abdel Fattah El-Sisi and Turkish President Recep Tayyip Erdogan announced this agreement in Cairo during the second meeting of the High-Level Strategic Cooperation Council, which they both co-chaired.
President El-Sisi said the agreement aims to strengthen relations between the two countries. He told businesses and organisations in Egypt and Turkey to work toward this aim and look for methods to improve trade cooperation, which is now worth $9 billion. He said Egypt is Turkiye’s most important trading partner in Africa and that Turkiye is one of the best destinations for Egyptian goods.
El-Sisi emphasized the importance of expanding trade volume to $15 billion, removing barriers to trade, and boosting investment and other forms of economic cooperation. Erdogan added, “We are taking strong steps toward our goal of raising the value of trade between the two countries to $15 billion. We are pleased that Turkish businesses are investing nearly $4 billion in Egypt, helping create more jobs.
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