Egyptian-Turkish trade: A love-hate relationship
Egypt's free trade agreement with Turkey ends in 2020, but it is unclear whether it will be renewed in light of the political antipathy between the two countries' leaders.
CAIRO — In many instances, international trade and politics go hand in hand, with strong political ties often leading to stable or thriving trade and exchange between countries. Such, however, is not the case when it comes to Egypt and Turkey, whose political relationship is icy at best but who are bound by a mutually beneficial free trade agreement (FTA), which is set to expire in 2020.
In 2018, Egypt and Turkey set a record for bilateral trade between them, with Turkish exports to Egypt totaling $3.05 billion, an increase of 29.4% compared to in 2017, and Egyptian exports to Turkey amounting to $2.19 billion, an increase of 9.68% for the same time period. Yet, the Egyptian-Turkish FTA, signed in December 2005 and entered into force on March 1, 2007, faces possible suspension amid the apathy prevailing between Ankara and Cairo.
