Egypt-Turkey Trade Reached $3.4 bln In August 2012
The commercial exchange between Egypt and Turkey during January-August 2012 recorded $3.4 billion, soared by 26% than the same period last year.
Reliable sources in the ministry of industry and foreign trade told Amwal Al Ghad that the volume of the Egyptian industrial exports to Turkey recorded $ 792 million, in different productive sectors, the chemical sector and fertilizers came first of Egypt’s exports to Turkish market with $ 343 million.
The sources added that Egypt’s exports of textile during the same period reached $ 139 million, while, the Egyptian building materials exports to Turkey amounted to $ 90 million; the rest exporting value has been distributed on the sectors of ready-made garments, furnishings, medical industries, and crops.
On the other hand, Turkish industrial exports to Egyptian market during the same period concentrated on a number of productive sectors; the building materials reached $342 million, chemical and fertilizers sector recorded $221 million.
The Turkish businessman Zaki Ekinci, Chairman of Turkish-Egyptian Businessmen Association (TUMİAD), for his part, told Amwal Al Ghad that he expects the rates of commercial exchange between Egypt and Turkey in the coming period increase according to their usual developments since signing the free trade agreement between the two countries in 2007.
Ekinici called on President Morsi to open communication channels with the Turkish government, so as to facilitate the infrastructure investments and commercial trade. It also necessary to sign protocol for opening a branch of Turkish bank in Egypt in the coming period to facilitate the financial transactions for the Turkish investors inside the Egyptian market.
According to the Turkish-Egyptian Businessmen Association (TUMİAD), the volume of Turkish investments in Egypt recorded $ 1.5 billion, and distributed on 210 Turkish companies in the Egyptian market, and provides about 50.000 full-time jobs.
