The Chargé d’Affaires of the Turkish Embassy in Egypt, Ambassador Salih Mutlu Şen said he expects trade volume between Egypt and Turkey to reach $20 billion in the coming years.
He said the size and proximity of the two countries make for a very attractive and lucrative investment climate.
This news was announced at an Iftar ceremony organized by the Egyptian-Turkish Businessmen’s Association, in the presence of a number of Egyptian and Turkish businessmen, Vice President Hamada Al-Ajwani.
The Turkish chargé d’affaires said that the two countries will create a future together by consolidating all political, economic, commercial and cultural areas.
Mutlu Şen previously said during an interview with Al-Masry Al-Youm that the trade volume between the two countries is constantly increasing every year.
In 2022, the volume of mutual trade (excluding energy) reached US% 7.108 billion, an increase of 5 percent over the previous year.
For his part, the head of the Egyptian-Turkish businessmen’s association, Nihad Akincisaid his country felt the support of the Egyptian people, the Egyptian government and the Egyptian Red Crescent in supporting Turkey after the devastating earthquake on February 6.
Akinci pointed out that economic relations between Egypt and Turkey developed with an old free trade agreement signing in 2005.
Turkey is interested in investing in Egypt because of the facilities it offers, noting that there are about 200 Turkish companies in Egypt providing thousands of jobs, with a direct investment of USD 2 billion.