Egypt eyes joint industrial ties with Turkiye

Egypt and Turkiye are confident of a breakthrough in levels of industrial cooperation following talks between senior ministers.

Ahmed Samir, the Egyptian minister of trade and industry, met with Mehmet Fatih Kacir, the Turkish minister of industry and technology, to discuss greater technical, professional and technological cooperation, including the possibility of establishing a Turkish industrial zone in Egypt.

The meeting took place during the Egyptian minister’s visit at the head of a high-level delegation to the Ankara.

Samir’s visit to the Turkish capital is the first by an Egyptian trade and industry minister to Turkiye in 10 years.

The two sides discussed the possibility of establishing a joint plan until June 2024, especially in the sectors of furniture, carpets and chemical industries.

During the meeting, Samir said that a proposed joint memorandum of understanding will deal with industrial cooperation, transfer of technical expertise, technical training, university and pre-university education, industrial investment and agricultural industrialization.

Samir also raised hopes of joint manufacturing projects in Egypt and export to various countries, saying that Egypt offers many preferential advantages for companies that export abroad.

The Turkish minister said that the Egyptian delegation’s visit heralds the start of a new phase of economic cooperation between the two countries.

He highlighted the importance of strengthening industrial and technological cooperation, saying that Turkiye has 354 industrial zones, while the industrial sector contributes $240 billion to the Turkish economy, or 27 percent of national earnings.

Samir invited his Turkish counterpart to visit Cairo to follow up on the results of the visit and to review future cooperation projects between the two countries.