Egypt,Türkiye explore deeper trade Ttes as minister meets with Turkish Business Leaders

Egyptian Minister of Trade and Industry Ahmed Samir met with Mustafa Denizli, head of the Turkish side of the Joint Business Council, and members of the Turkish Foreign Economic Relations Board (DEİK) in Istanbul to discuss expanding investment opportunities in Egypt.

Samir highlighted the improving Egyptian economy and the significant opportunities it offers Turkish companies in various sectors, including textiles, ready-made garments, leather, glass industries, home appliances, packaging, and plastics.

He also outlined the advantages of Egypt’s trade agreements with various countries and economic blocs.

“Joint negotiations regarding the launch of a Ro-Ro shipping line between Egypt and Turkey are progressing rapidly,” Samir stated.

Denizli emphasized the sustainability and continuous growth of Turkish investments in Egypt, which have exceeded $3 billion. Turkish investors expressed their desire to resume the Ro-Ro line to facilitate trade between the two countries.

During his visit to Istanbul, Samir also met with Doris Uzoka, Nigerian Minister of Trade, Industry, and Investment, to discuss ways to enhance economic relations, global economic developments, and other topics of mutual interest.

Both sides emphasized the importance of the African Continental Free Trade Area (AfCFTA) in promoting intra-African trade and achieving continental economic integration. They also stressed the need to increase intra-Islamic trade and investments within the D8 group.

Samir outlined the development of logistical zones being established by Egypt in several African capitals and cities, which would increase Egyptian exports to African markets. He also discussed the possibility of increasing trade between Egypt and Nigeria through barter deals to alleviate pressure on hard currencies.