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.
During the meeting, Samir emphasized the improving Egyptian economy and the significant opportunities it offers to Turkish companies in sectors such as textiles, ready-made garments, leather, glass industries, home appliances, packaging, and plastics. He also highlighted the benefits of Egypt’s trade agreements with various countries and economic blocs, which provide Turkish businesses with strategic advantages.
“Joint negotiations regarding the launch of a Ro-Ro shipping line between Egypt and Turkey are progressing rapidly,” Samir stated, indicating a strong commitment to enhancing logistical connectivity between the two nations.
Denizli noted the sustainability and continuous growth of Turkish investments in Egypt, which have exceeded $3 billion. Turkish investors expressed a keen interest in resuming the Ro-Ro line to facilitate and boost trade between Egypt and Turkey.
In addition to his engagements with Turkish officials, Samir also held a meeting with Doris Uzoka, Nigerian Minister of Trade, Industry, and Investment, to explore ways to enhance economic relations, discuss global economic developments, and address topics of mutual interest.
Both ministers underscored the importance of the African Continental Free Trade Area (AfCFTA) in promoting intra-African trade and achieving economic integration across the continent. They also highlighted the need to increase intra-Islamic trade and investments within the D8 group, a development cooperation organization for developing countries.
Samir outlined Egypt’s development of logistical zones in several African capitals and cities, which aim to boost Egyptian exports to African markets. He also discussed the potential for increasing trade between Egypt and Nigeria through barter deals, which could help alleviate pressure on hard currencies.
These meetings signify Egypt’s active role in fostering international economic collaborations and its strategic efforts to expand its trade and investment footprint in both regional and global markets.
