Turkiye and Egypt Set $15 Billion Trade Target Within 5 Years

Salih Mutlu Şen, Turkiye’s Ambassador to Cairo, announced a goal of reaching a $15 billion trade volume with Egypt within five years, emphasizing the effective implementation of the Free Trade Agreement, the reopening of the Ro-Ro line, and trade in local currency as key factors.

At the African Tourism Forum in Sharm el-Sheikh, Egypt, Şen highlighted the strengthening ties between Turkiye and Egypt, likening their relationship to that of family. He underscored the mutual benefits of industrial and technological cooperation, stressing a “win-win” approach rooted in solidarity.

Şen noted that President Recep Tayyip Erdoğan’s visit on February 14 marked a historical turning point, sending a strong message to all sectors about the commitment to enhanced bilateral relations.

He added that Egypt’s overcoming of recent financial challenges will positively impact economic relations, facilitating the ambitious trade target. The focus includes:

  1. Free Trade Agreement: Expanding it to cover services and agricultural products.
  2. Reopening the Ro-Ro Line: A critical step eagerly anticipated by both nations.
  3. Trade in Local Currency: Reflecting political will from both sides.

Investment and Tourism Collaboration

Şen highlighted significant Turkish interest in Egypt’s textile sector, with existing investments exceeding $3 billion and plans for further expansion. He also emphasized the role of Turkish tourism professionals in Egypt, noting that Egyptian hotels import a substantial amount of their goods and equipment from Turkiye, including aquapark installations.

Tourism, he stressed, should be viewed as a multifaceted sector that integrates deeply with the Egyptian economy, driven by historical, social, cultural, and geographical ties between the two countries.

Source: AA / Prepared by Irem Yildiz

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