Egypt, Turkey aim to boost trade to $15 bln: FM Abdelatty - Foreign Affairs
Egyptian Foreign Minister Badr Abdelatty said during a Friday meeting with Turkish business leaders in Istanbul that Egypt and Turkey seek to deepen economic ties and increase bilateral trade from $9 billion to $15 billion.
According to Egypt's Foreign Ministry, Abdelatty described Turkey as a key destination for Egyptian exports and positioned Egypt as a strategic gateway for Turkish goods into African markets.
The meeting, held on the sidelines of the Organization of Islamic Cooperation's ministerial gathering, is part of broader efforts to strengthen Turkish investment in Egypt.
Abdelatty said the political leadership of both countries set the $15 billion target and reflects a shared commitment to closer economic integration.
After years of diplomatic strain, relations between the two countries have warmed significantly.
President Abdel-Fattah El-Sisi and Turkish President Recep Tayyip Erdoğan co-chaired the inaugural session of the High-level Strategic Cooperation Council in Ankara in September 2024 — a body established by joint declaration during Erdoğan's earlier visit to Cairo.
The council aims to elevate bilateral relations to the strategic level across multiple sectors.
During the meeting with Turkish business representatives, Abdelatty discussed opportunities for expanding trade and removing barriers to growth.
He underscored the importance of the Egypt-Turkey free trade agreement, which has been in force since 2005, as a key mechanism for reaching the new trade target.
He also welcomed the recent increase in Turkish investment in Egypt, citing advantages such as Egypt's membership in multiple regional trade agreements and the incentives available within the Suez Canal Economic Zone.
Abdelatty reaffirmed Cairo's support for Turkish investors, noting that Egypt's prime minister had established a dedicated unit to facilitate Turkish investment and help resolve any challenges they may encounter.
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