Egyptian-Turkish trade hits $7B in 2022

Updated 8/2/2023 1:07:00 PM
Egyptian-Turkish trade hits $7B in 2022

Arab Finance: The volume of trade exchange between Egypt and Turkey hit $7 billion for the first time in 2022, Minister of Trade and Industry Ahmed Samir announced on August 2nd.

The number of Turkish companies in Egypt has exceeded 790, with total investments of around $2.5 billion, in addition to the new investments of $400 million pumped back in 2020 in the sectors of medical, furniture, food, and engineering industries as well as pharmaceuticals, cosmetics, and chemicals.

Turkish firms in the North African country are expected to surpass 800 within this week and 1,000 by the end of the current year, Secretary General of the Federation of Egyptian Chambers of Commerce Alaa Ezz noted.

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