Egyptian president highlights joint economic vision with Türkiye at Cairo forum

Egyptian President Abdel Fattah al-Sisi has articulated a shared vision with Türkiye to elevate economic ties to unprecedented levels, focusing on trade growth and increased Turkish investment. His remarks came during the closing session of the Türkiye-Egypt Business Forum in Cairo, attended by President Recep Tayyip Erdoğan and senior business leaders from both nations.

Ambitious Trade Targets and Current Success

President Sisi revealed that bilateral trade has reached approximately $9 billion, with both sides aspiring to raise this figure to $15 billion or more. This achievement solidifies Egypt's position as Türkiye's foremost trading partner in Africa, while Türkiye ranks among the top destinations for Egyptian exports. He highlighted that Turkish investments in Egypt have already surpassed $4 billion, particularly noting the successful contributions of Turkish firms in Egypt's ready-made garments and textiles sector.

Foundations for Deepened Integration

Sisi credited the momentum in economic relations to strong foundations of geographic and cultural proximity, coupled with clear political will and a dynamic business community. As the two countries mark the centennial of diplomatic relations, the Egyptian leader stated that consultations with President Erdoğan revealed a broad consensus that the full potential of cooperation "has not yet been fully utilized," pledging intensified joint efforts to unlock further opportunities.

Egypt's Economic Reforms and Infrastructure Drive

Providing context for investors, President Sisi outlined Egypt's domestic economic progress, citing a 5.3% growth rate in the first quarter of the current fiscal year and noting that private sector investments now account for about 66% of total investments. He detailed massive infrastructure investments exceeding $550 billion since 2014 in roads, energy, water, and smart cities, and emphasized a national strategy to transform Egypt into a global logistics hub through port developments like Alexandria and East Port Said.