Turkey-Egypt trade volume surges – official

The volume of trade between Egypt and Turkey has surged, the chairman of the Turkish-Egyptian Businessmen’s Association (TUMIAD), announced Sunday. Egypt now ranks as the 7th largest importer of goods from Turkey, while Turkey is the 5th largest importer from Egypt, explained Atilla Ataseven.

In a press statement, Ataseven explained that the Egyptian products exported to Turkey are mainly produced by Turkish companies operating in Egypt, in an attempt to promote the “Made in Egypt” campaign. “Although Turkey’s total exports have declined over the past two years, its exports to Egypt have increased markedly,” he pointed out.

The TUMIAD chairman called on Turkish businessmen to take advantage of the strong trade relations between Egypt and Turkey and work on boosting the presence of Turkish products in Egypt. “It is a better-quality alternative to the prevailing Chinese products,” he said.

Describing Turkish steel as “high quality,” Ataseven also noted that the Turkish steel industry has been growing and developing over recent years, He urged steel producers to increase their exports to Egypt.

Turkish-Egyptian trade and investment links have increased dramatically under Egyptian President Abdel Fattah al-Sisi, especially after he pledged to strengthen his country’s bilateral relations with neighbouring countries.

Last month, a high-level Turkish delegation visited Egypt in an attempt to discuss means of boosting trade between the two countries, with a number of different projects beginning across various sectors in the North African country. During the visit, the delegation also pledged to increase investments from Turkey to $10 billion before 2018, from the current $5 billion.

Source: Middle East Monitor