Thursday 10 Oct

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Egypt woos Turkish investors in Istanbul, Ro-Ro Line sought


Egypt woos Turkish investors in Istanbul, Ro-Ro Line sought

Egyptian Minister of Trade and Industry Engineer Ahmed Samir, Wednesday met with Mustafa Denizer, the Head of the Turkish delegation and members of the Turkish Foreign Economic Relations Board (DEIK) to discuss investment opportunities currently available in the Egyptian market.

This meeting was attended by Amr El-Hamami, Egypt's ambassador to Ankara, and Minister Trade Commissioner Ali Pasha, head of the Egyptian Commercial Office in Istanbul. It took place within the framework of the minister's current visit to Istanbul to participate in the informal meeting of trade ministers of the Group of Eight Islamic Developing Countries (D-8) and the third ministerial meeting of ministers of the Trade Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (OIC).

 The minister stated that the meeting brought together a large number of leading Turkish companies investing in Egypt in the fields of textiles, ready-made garments, leather, glass industries, home appliances, packaging, plastics, as well as some companies that are studying investment in Egypt.

Samir reviewed the features of the improvement of the Egyptian economy, and the great opportunities it provides for Turkish companies wishing to invest in Egypt, whether for sale in the local market or export abroad, within the framework of the network of trade agreements concluded between Egypt and various countries and major economic blocs such as the European Union, the United States, Arab countries and the South American bloc, Mercosur.

The minister added that joint negotiations on the launch of the Ro-Ro shipping line between Egypt and Turkey are in full swing.

For his part, Mustafa Denizer, Head of the Turkish side in the Joint Business Council, explained that Turkish investments in Egypt are characterized by sustainability and continuous growth, noting that the Turkish and Egyptian governments alike encourage Turkish investments in Egypt, which have exceeded 3 billion dollars and are on the rise.

Turkish investors expressed their desire to resume the operation of the Ro-Ro line between Egypt and Turkey, which would contribute to facilitating trade between the two sides.