Cairo seeks to boost trade with Ankara, overlooking political deadlock
Tarek Kabil, Egypt’s minister of trade and industry, said it is not in Egypt’s interest to hinder trade activities with Turkey.
CAIRO — The Egyptian minister of trade and industry, Tarek Kabil, told Shorouk News on Aug. 22 that in the first half of 2017, Egypt’s exports to Turkey rose by 30% to $1.07 billion, while Turkey’s exports to Egypt dropped by 50%, reaching $912 million in the same period.
Turkey is one of Egypt's biggest sources of imported clothing, and the trade volume between the two countries reached about $3 billion in 2016 in fields such as engineering, food, energy and agriculture, according to the Egyptian Ministry of Trade and Industry.
Turkish investments in Egypt decreased following the January 25 Revolution of 2011, and a Turkish delegation visited Cairo on Jan. 30 of this year in an attempt to reboot the investments. The delegation, led by Rifat Hisarciklioglu, the head of the Union of Chambers and Commodity Exchanges of Turkey, sought to pave the way for the return of Turkish investments in Egypt.
In the interview with Shorouk News, Kabil indicated that although there are political differences between Egypt and Turkey, that should not hinder trade between the two countries.
