Egypt, Türkiye aim to lift trade to $15b in coming years

Egypt and Türkiye agreed to step up efforts to raise bilateral trade to $15 billion from $9 billion and expand investment cooperation, Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib said after talks with Turkish Trade Minister Ömer Bolat in Istanbul.

The meeting took place on the sidelines of the 41st session of the Organisation of Islamic Cooperation’s Standing Committee for Economic and Commercial Cooperation (COMCEC). Bilateral trade reached about $9 billion in 2024, with $4 billion recorded in the first half of 2025, including $2 billion in Egyptian exports.

El-Khatib called for easing restrictions on Egyptian exports and reaffirmed Egypt’s commitment to fair competition. He proposed holding the second session of the High-Level Trade Consultation Mechanism in Cairo in December, alongside the upcoming D8 ministerial meeting, to advance the bilateral free trade agreement.

During his visit, El-Khatib also met with executives from major Turkish textile and apparel firms at a meeting organised by the Egyptian-Turkish Business Council. Several companies announced plans to expand operations and inject new investments in Egypt’s textile industry, aimed at boosting exports, production capacity, and employment.

The minister said Turkish investments in Egypt have reached $4 billion and praised Ankara’s business community for its confidence in Egypt’s economy. He added that Prime Minister Moustafa Madbouly has set up a dedicated unit to address Turkish investors’ concerns and facilitate new projects.

El-Khatib also outlined Egypt’s ongoing business climate reforms, including plans to cut customs clearance time to two days by year-end and raise the country’s global trade competitiveness ranking to the top 20 by 2030.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser