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Turkish Amb. Shen : Turkey continues its investments in Egypt and West Qantara receives $120 miln as a new investment soon

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Ashraf AboArafe

Ambassador Shen:

* The volume of mutual trade between Turkey and Egypt reached $8.8 billion in 2024 and is expected to reach $10 billion this year.

The Ambassador of the Republic of Turkey in Cairo, Salih Mutlu Shen, participated in the opening session of the bilateral talks between Turkey and Egypt, which were organized on January 28, 2025 in partnership with the Ministry of Trade of the Republic of Turkey and the Turkish Exporters Council.

The meetings were attended by approximately 30 Turkish investors and businessmen from many sectors such as textiles, home appliances, automobiles, agricultural products, chemical, electrical and electronic products, as well as many businessmen from Egypt.

In his speech during the opening session, Ambassador Salih Mutlu Şen explained that the volume of bilateral trade between Turkey and Egypt increased by one billion dollars compared to 2023, reaching 8.8 billion dollars in 2024. He pointed out that the volume of trade between Turkey and Egypt is expected to rise to 10 billion dollars in 2025.

He added that in the balance of imports and exports for the year 2024, there is a surplus in favor of Egypt of approximately 400 million dollars, and that this difference is healthy and sustainable.

He pointed out that Turkey is one of the rare countries with which Egypt enjoys a trade surplus, and that this situation proves the extent of the success of the free trade agreement on a win-win basis.

Ambassador Şen stressed that Turkey is the third largest export market for Egypt, expressing his hope that Egypt will maintain its position among the top three during the next decade.

In this context, Ambassador Shen confirmed that Turkish investments in Egypt are continuing without interruption, and that he received good news during a meeting with Turkish businessmen he attended in Istanbul that Aroglu Holding Company will make a new investment worth $120 million in the industrial zone in Qantara West.

At the end of his speech, Ambassador Shen stressed that the free trade agreement between Turkey and Egypt has increased trade and investment between the two countries, and that investment will not increase without trade, and therefore commercial activities are very important.

Ambassador Shen explained that local industries can be based on permanent import relations in addition to permanent and comprehensive long-term cooperation between exporters and importers, expressing his hope that this meeting will be an opportunity to strengthen mutual trade relations.

Ambassador Salih Mutlu Shen explained that they are working according to a strategic vision aimed at growing and strengthening the economies of Turkey and Egypt together.

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