Turkish Ambassador Highlights Growing Trade, Investment Ties Between Turkey, Egypt

Turkish Ambassador to Cairo, Salih Mutlu Şen, announced that Turkish investments in Egypt remain ongoing without interruption. He revealed plans for a new $120 million investment in the industrial zone of West Qantara.

During the opening session of bilateral talks between Turkey and Egypt on January 28, 2025, organized in partnership with Turkish Ministry of Trade and Turkish Exporters Assembly, the ambassador shed light on strong trade relations between the two nations. 

The session was attended by approximately 30 Turkish investors and businessmen from various sectors, including textiles, home appliances, automotive, agricultural products, chemicals, and electronics, alongside numerous Egyptian business representatives.

In his speech, Şen highlighted that the trade volume between Turkey and Egypt increased by $1 billion in 2024 compared to 2023, reaching $8.8 billion. He projected this figure to rise to $10 billion in 2025.

He added that Egypt recorded a trade surplus of approximately $400 million in 2024, describing this surplus as healthy and sustainable. 

Moreover, Şen emphasized that Turkey is one of the few countries with which Egypt has a trade surplus, demonstrating the success of the Free Trade Agreement in fostering mutually beneficial relations.

The Turkish ambassador also pointed out that Turkey is Egypt's third-largest export market, expressing hope that Egypt will maintain its position among the top three over the next decade.

In addition, Şen reaffirmed that Turkish investments in Egypt are uninterrupted, mentioning that during a meeting with Turkish businessmen in Istanbul, he received promising news that Aroğlu Holding will invest $120 million in the industrial zone of West Qantara.

Concluding his remarks, the Turkish ambassador stressed that the Free Trade Agreement between Turkey and Egypt has significantly boosted trade and investment between the two countries. He noted that investments cannot grow without trade, underscoring the importance of commercial activities.

Şen further explained that local industries could thrive through long-term, sustainable trade relations and collaboration between exporters and importers. He expressed hope that this meeting would serve as an opportunity to strengthen mutual trade relations.

he added that the strategic vision guiding their efforts aims to foster the economic growth and prosperity of both Turkey and Egypt.