Egypt, Türkiye step up efforts toward $15B trade target

Updated 11/3/2025 12:39:00 PM

Arab Finance: Egypt and Türkiye agreed on intensifying efforts to achieve their target of increasing the volume of trade exchange from approximately $9 billion in 2024 to $15 billion over the coming years, according to a statement.

This came during Minister of Investment and Foreign Trade Hassan El-Khatib’s meeting with Turkish Trade Minister Ömer Bolat on the sidelines of the 41^st Ministerial Session of COMCEC in Istanbul.

El-Khatib mentioned Prime Minister Mostafa Madbouly's decision to form a special unit to follow up on the issues facing Turkish investors to promote investments in Egypt.

In the first half (H1) of 2025, the trade exchange between the two countries hit $4 billion, of which $2 billion were Egyptian exports.

Upon his arrival in Istanbul, El-Khatib met with the heads of major Turkish textile and apparel companies in a meeting organized by the Egyptian-Turkish Joint Business Council.

They discussed exploring cooperation opportunities and reviewing key investment opportunities available in Egypt, particularly in value-added industrial sectors.

During the meeting, the heads and officials of Turkish textile and apparel companies in Egypt rolled out plans to scale their investments, developing the production lines of Turkish firms in Egypt, and increasing production capacity.

It would also boost integration between Egypt and Türkiye in supply chains and expand the supply base from the local market.

He asserted the government's commitment to removing all obstacles and providing support for projects that promote exports, job creation, and technology transfer.

Earlier this year, Türkiye’s Ambassador to Cairo Salih Mutlu Sen revealed plans to boost bilateral trade volume between the two countries to $15 billion over the next five years.

Sen also noted that Turkish companies plan to pump new investments of not less than $300 million in Egypt during 2025, predominantly in the textile sector.