Egypt Investment Minister Eyes Stronger Economic Ties With Turkey

Egypt’s Investment Minister Osama Saleh said he has met with Turkey’s Finance Minister Mehmet Simsek to discuss means of promoting the technical and economic cooperation between the two countries for the current phase.

Saleh added that boosting the cooperation between Egypt and Turkey shall contribute to aiding the Egyptian market in carrying out its planned economic reforms, represented in achieving balanced growth rates to ensure social justice.

Saleh has met with Simsek on the sidelines of the Turkish-Arab Economic Forum which was held in Istanbul on April 4 and 5.

From his side, the Turkish finance minister has emphasized that the Egypt is still one of the biggest and most vital global market in terms of diversity, consumer purchasing power and employment.

Simsek further referred that his country is counting on Egypt’s stability followed by the upcoming parliamentary elections. Therefore, the Egyptian economy would revive and implement its targeted reforms.
Meanwhile, the Egyptian investment minister has also held a meeting with the Istanbul Stock Exchange representatives reviewing the Turkish bourse’s development process alongside the anticipatory tie-up project between the Egyptian Exchange (EGX) and ISE.

Egypt’s anticipatory alliance with the Istanbul Stock Exchange will allow investors in the two countries to trade on each other’s markets. Under the proposal, which follows a memorandum of understanding signed by the two exchanges last June, Turkish investors would be able to trade directly on the Egyptian bourse through Turkish brokerages and vice versa.