Turkey, Egypt reaffirm their commitment to boost economic, trade ties
The meeting, chaired by the President of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), Rifat Hisarcıklıoğlu, brought together Egypt’s Foreign Minister Badr Abdelatty and his accompanying delegation.
At the start of the session, Abdelatty expressed condolences over the loss of lives in the recent crash of a Turkish C-130 military transport plane near the Georgia–Azerbaijan border.
“He (Hisarcıklıoğlu) has managed to keep these relations alive even during the most difficult times, when political challenges existed between our countries. For that, we extend our sincere thanks and respect to him,” the minister said.
Abdelatty noted his pleasure at visiting Ankara and emphasized that economic cooperation continues to serve as a vital link between the two nations. “The Egyptian government is keen to provide you with every possible facilitation,” he said, adding, “We are also working to ensure the investment climate is fully prepared. We hope that by working together, we can further develop our commercial and investment relations for the prosperity of our country.”
The minister stated that the two sides aim to raise their trade volume to $15 billion, pointing out that bilateral trade had already climbed to $8.8 billion in 2024, up from the previous year though still “not at the level we desire.”
Referring to President Abdel Fattah el-Sisi’s visit to Ankara last year, Abdelatty said the goal was discussed with President Recep Tayyip Erdogan and described it as “not impossible,” citing both countries’ strong potential.
“Without a doubt, we will offer you all available facilities,” he continued. “You need us, and we need you. We are your gateway to Africa. Egypt has a large domestic market as well as free trade agreements with Arab countries and across the African continent. Türkiye, too, is a major and important country.”
He highlighted that Turkish investments in Egypt currently stand at about $3 billion, adding: “As my esteemed brother Hisarcıklıoğlu has pointed out, Turkish investments in our country currently amount to around $3 billion. But we expect even more.”
Abdelatty identified promising areas for cooperation, including construction, infrastructure, digitalization, food security, and artificial intelligence, while also noting the growing significance of tourism and healthcare. “Our goal this year is to surpass 18 million tourists,” he said.
For his part, Hisarcıklıoğlu described Türkiye and Egypt as “two friendly nations bound by strong cultural and historical ties,” emphasizing that both sides have vast potential for collaboration in sectors such as industry, trade, energy, tourism, and construction.
“Even during difficult periods in our relations, as representatives of the business world, we have always kept politics and economics separate,” he said, adding that ambassadors from both countries have played an important role in rebuilding confidence and cooperation.
The TOBB president noted that Turkish companies have invested approximately $3 billion in Egypt. “A total of 200 Turkish companies, including 40 large-scale firms, are engaged in production in Egypt. They provide employment, generate exports, and contribute to the local economy,” he said.
He added that Turkish businesses rank among Egypt’s leading textile exporters and collectively employ around 100,000 Egyptian citizens, with new investment projects already being planned.
Describing Egypt as Türkiye’s largest trading partner in Africa, Hisarcıklıoğlu endorsed the $15 billion trade target, calling it “realistic and achievable.”
He underlined the potential for collaboration in construction, noting that 45 of the world’s 250 largest international contractors are Turkish firms, and voiced Türkiye’s interest in participating in Egypt’s major infrastructure projects, particularly in the railway sector. He also suggested exploring joint ventures between Turkish and Egyptian companies in Africa, the Middle East, and beyond.
Proposing practical steps to boost trade, Hisarcıklıoğlu called for the revival of maritime transport links between the two nations. “Between 2012 and 2015, the Mersin–Alexandria and Iskenderun–Damietta Ro-Ro routes made our bilateral trade and joint operations in third countries much easier,” he said. “I believe that renewing this agreement, which my brother El-Wakil and I initiated, would benefit both Türkiye and Egypt.”
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