Egypt and Turkey share diplomatic and economic ties built on cooperation as well as cultural, religious, and historical origins that go eight centuries back to the Ottoman Empire. Egypt is currently Turkey’s top trading partner in Africa, and Turkey is one of the most important destinations for Egyptian exports. According to President Abdel Fattah El-Sisi, “Over the past ten years, contact with Turkey has been constant, with trade and investment relations continuously growing.” During the first quarter of 2024, Turkish exports to Egypt reached USD 872 million (EGP 41.7 billion), a 28 percent increase from the first quarter of 2023, marking Egypt as Turkey’s largest African importer. Meanwhile, Turkey imported Egyptian products during the same period for the value of USD 874 million (EGP 41.8 billion). According to the Central Agency for Public Mobilization and Statistics (CAPMAS), bilateral trade between Egypt and Turkey reached USD 7.7 billion (EGP 41.9 billion) in 2022, compared to USD 6.7 billion (EGP 320.9 billion) in 2021, marking a 14% increase. Meanwhile, the total trade volume between Egypt and Turkey reached USD 6.6 billion (EGP 316.1 billion) in 2023, compared to USD 7.8 billion (EGP…
The post Egypt and Turkey Plan for Trade Relations Strengthen in 2024 first appeared on Egyptian Streets.
Source: egyptianstreets
