Turkiye aims to increase the trade volume with Egypt to $15 billion in 5 years

Trade Minister Omer Bolat stated that they aim to increase mutual trade with Egypt to $15 billion within 5 years.

Minister Bolat hosted Ahmed Samir Saleh, Egyptian Minister of Industry and Trade, and accompanying business representatives at the Ministry of Commerce.

Bolat shared on his Twitter account regarding the meeting that they met with Egyptian Minister of Trade and Industry Ahmet Samir Saleh and evaluated the commercial and economic relations between the two countries.

Stating that they have determined a new roadmap in economic relations, Bolat said, “We decided to increase our mutual trade with Egypt to $15 billion within 5 years, to hold our Joint Committee Meeting to develop our Free Trade Agreement (FTA), to develop our cooperation in investments and contracting services, and to explore trade opportunities in local currencies. We will meet in Cairo shortly within the framework of the High-Level Commercial Consultation Mechanism to follow up on the decisions we took at this meeting.”

Bolat also stated that they held a working meeting attended by the heads of Turkish and Egyptian business organizations, and stated that they listened to the views and evaluations of the private sector on the development of commercial and economic relations between Egypt and Turkiye.

Minister Bolat to pay a visit to Egypt

On the other hand, in the written statement made by the Ministry, it was stated that a consensus was reached on establishing a strong cooperation in order to provide the necessary convenience to the investors at the point of increasing mutual investments.

It was stated that it was agreed to carry out intensive joint organizations that bring the business circles together, and it was emphasized that in this context, it was agreed to encourage companies in strong participation in Business forums and fairs in the two countries.

In the statement, it was stated that it was decided that the parties would come together within the framework of the High Level Commercial Consultation Mechanism during Bolat’s visit to Egypt in the future upon the invitation of the Egyptian Minister Saleh. “The meeting, which is important as it is the first mutual visit between the Ministers of Trade in the last 10 years, constitutes an important basis for the commercial and economic cooperation that will progress between the two countries in the coming period.”

Source: AA / Prepared by Irem Yildiz

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