Egypt-Turkey Aim to Upgrade Economic, Trade Ties: FM Spox

Egypt and Turkey are looking to bolster their economic and trade ties in the near future, according to Egypt's Ministry of Foreign Affairs spokesperson, Ahmed Abu Zeid.

In an interview with Al-Sharq Bloomberg on Wednesday, Abu Zeid noted that both countries have expressed a political will to develop and cooperate further, with expectations of increased trade exchange and Turkish investments in Egypt in line with the improvement of relations.

Two hundred Turkish companies currently operating in Egypt are investing EGP 2 billion ($64 million) in the country, according to Atilla Yenigun, Commercial Counselor of the Turkish embassy in Cairo.

Bilateral trade volume between Egypt and Turkey rose by 14 percent to $7.7 billion in 2022, up from $6.7 billion the previous year, according to data released by the Central Agency for Public Mobilisation and Statistics (CAPMAS) in March.

Abu Zeid's statement came a day after a joint statement announced the upgrading of diplomatic relations to the ambassadorial level, the latest in a series of moves to normalize relations after severing diplomatic ties in 2013.

In his interview, Abu Zeid said the upgrade of diplomatic relations is an important step, and the culmination of recent diplomatic efforts between the two countries, going back to a meeting between Egyptian president Abdel-Fattah El-Sisi and Turkish President Recep Tayyip Erdoğan in Doha last year.

Both leaders have issued directives to work for the full restoration of diplomatic relations after having reaching an understanding on all topics pertinent to bilateral ties and the regional interests of both parties, he explained.

Speaking on the Libyan and Syrian issues, Abu Zeid affirmed that bilateral talks have been characterized by transparency and clarity, and that Egypt has expressed its vision for stability in the region and its ideal solutions to the situations in Libya and Syria.

The Turkish side also discussed these issues extensively, and there was an agreement on the importance of supporting regional stability, he noted.

It is of mutual interest to Egypt and Turkey to promote stability in Libya and Syria, by resolving the Syrian crisis completely and finally, and supporting elections in Libya, said the Egyptian foreign ministry spokesman.

"Therefore, efforts must converge to achieve these goals, because the stability of the Middle East region is in the interest of both parties," he added.

The Egyptian position regarding issues in Libya is clear, and is based on the imperative of foreign non-interference in Libyan affairs, the rejection of the presence of foreign forces in all forms on Libyan soil, and the call for elections as soon as possible to form an elected government, he added.

As for Syria, Egypt advocates a resolution to Syrian issues through the Arab liaison group that was formed by the Council of Arab Foreign Ministers, he clarified.

Abu Zeid said all of this was discussed fully and extensively. He added that Tuesday's announcement marks the beginning of a path to a normal bilateral relationship, and that restoring diplomatic representation at the ambassadorial level will facilitate communication between the two countries.