ANKARA/ISTANBUL
Türkiye and Egypt reaffirmed their commitment to strengthening economic and trade cooperation during a roundtable meeting held on Wednesday in Ankara.
The meeting was held under the chairmanship of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) President Rifat Hisarciklioglu, with Egypt’s Foreign Minister Badr Abdelatty and his delegation in attendance.
At the outset, Abdelatty offered condolences for those who died in the crash of a C-130 military cargo plane near the Georgia–Azerbaijan border.
“He (Hisarciklioglu) 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,” Abdelatty said.
Expressing satisfaction at being in Ankara, the Egyptian minister underscored that trade and economic cooperation bring the two nations closer.
“The Egyptian government is keen to provide you with every possible facilitation,” he said.
“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.”
Abdelatty said the two countries aim to raise their bilateral trade volume to $15 billion, noting that it reached $8.8 billion in 2024, up from the previous year but still “not at the level we desire.”
Recalling President Abdel Fattah el-Sisi’s visit to Ankara last year, he said the trade goal was discussed with President Recep Tayyip Erdogan, describing it as “not impossible,” given the countries’ “great potential.”
“Without a doubt, we will offer you all available facilities,” Abdelatty said.
“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.
“As my esteemed brother Hisarcıklıoğlu has pointed out, Turkish investments in our country currently amount to around $3 billion. But we expect even more.
“There are vast opportunities in construction, infrastructure, digitalization, food security, and artificial intelligence where we can benefit from our mutual expertise.”
Abdelatty also noted the growing importance of tourism and health, saying: “Our goal this year is to surpass 18 million tourists.”
-'200 Turkish companies operate in Egypt'
Hisarciklioglu described Türkiye and Egypt as two friendly nations “bound by strong cultural and historical ties,” with major cooperation prospects in 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 of both countries have “greatly contributed” to strengthening ties.
Hisarciklioglu said Turkish firms have invested about $3 billion in Egypt, noting: “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.
“We are proud that Turkish firms are among Egypt’s top textile exporters. Our companies employ around 100,000 Egyptian citizens, and new investments are on the agenda.”
Emphasizing that Egypt is Türkiye’s largest trading partner in Africa, he voiced support for the $15 billion trade target, calling it “realistic and achievable.”
“We believe there are great opportunities in the construction sector, too. Forty-five of the world’s 250 largest international contractors are Turkish firms,” he said.
“We would like to take part in Egypt’s rapidly expanding infrastructure projects, particularly in railways. Moreover, we see opportunities for cooperation with Egyptian companies in Africa, the Middle East, and third countries.”
Calling for efforts to deepen cooperation, Hisarciklioglu proposed reviving 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.”
