World Courant
The vice chairman of the ready-made clothes division on the Egyptian Chambers of Commerce, Khaled Suleiman, revealed the entry of recent Turkish investments within the ready-made clothes sector.
He defined that ten Turkish traders within the spinning, weaving and clothes sectors selected to enter the Egyptian market resulting from its sturdy capabilities.
Suleiman added that this yr, there shall be extra investments within the spinning, weaving and ready-made clothes sectors, amid the provision of labor at decrease prices than aggressive markets, along with the provision of commercial land throughout the nation at costs that match the funding prices of overseas traders.
The vice chairman of the Prepared-made Garment Division on the Chambers of Commerce defined that the Egyptian market is certain by numerous commerce agreements that open overseas traders to international markets and import their merchandise with decrease customs duties, particularly for Arab and Arab international locations. American markets.
The Chairman of the Turkish-Egyptian Affairs Council of the Turkish Council for Overseas Financial Relations, Mustafa Denizir, beforehand introduced that the amount of Turkish investments in Egypt amounted to roughly three billion {dollars}.
Denizir informed Anadolu Company that Turkish investments in Egypt will create 70,000 direct jobs and about 100,000 oblique jobs, with a complete annual return of $1.5 billion.
He stated the commerce quantity between the 2 international locations began to extend with the free commerce settlement signed with Egypt in 2007 and now stands at $10 billion.
In keeping with Denizir the amount of commerce between the 2 international locations This might enhance from $15 to $20 billion over the subsequent 5 years.
Enormous new Turkish investments are flowing into Egypt’s ready-made garment sector
Africa Area Information ,Subsequent Massive Factor in Public Knowledg
