Turkish and Egyptian Companies Convene in Cairo

Over 300 bilateral business meetings were held between Turkish and Egyptian companies during the Egypt (Cairo) General Trade Delegation program.

The Egypt General Trade Delegation program, organized to strengthen commercial ties between Türkiye and Egypt and to foster new collaborations and investment opportunities, was held in Cairo. The delegation, coordinated by the Ministry of Trade and organized by the Türkiye Exporters Assembly, was led by TİM Vice Chairman Ahmet Fikret Kileci. The delegation included representatives from 21 Turkish exporting companies operating in various sectors such as textiles, chemicals, automotive, and electrical-electronics. A total of 90 Egyptian firms participated in the program, facilitating over 300 bilateral business meetings between Turkish and Egyptian companies.

 "We believe there is significant potential in mutual trade between Türkiye and Egypt"

Speaking at the opening ceremony of the program, TİM Vice Chairman Ahmet Fikret Kileci emphasized the deep historical ties between Türkiye and Egypt. Kileci stated, "At the same time, we are two powerful nations in this region. Therefore, I firmly believe that enhancing cooperation between our countries is in the best interest of both sides.”

Highlighting that they had come to Egypt with 21 companies from various sectors to lay the groundwork for new partnerships, Kileci continued: “As you all know, near-shoring is becoming increasingly vital in global trade. Despite the sea that separates us, we have a strong transportation infrastructure and logistical advantages with Egypt. Consequently, the conditions are favorable for enhancing trade between our nations. We believe there is substantial potential in mutual trade between Türkiye and Egypt.”

“Our target in bilateral trade is $15 billion”

Kileci noted that the normalization of political relations has positively impacted trade between the two countries and expressed his enthusiasm for laying the foundation for new collaborations.

Sharing data on mutual trade between Türkiye and Egypt, Kileci reported that in 2024, 5,700 Turkish companies exported to Egypt, increasing total exports by 25% to reach $4.2 billion.

Continuing his speech, Kileci added:

“Moreover, our imports from Egypt reached $4.4 billion, marking a 21% increase. With these figures, our bilateral trade volume has surpassed $8.6 billion. We have a crucial goal of reaching $15 billion in mutual trade. To achieve this target, we, as businesspeople from both countries, bear great responsibility. When we examine the sectors in which we export, we see that the top five sectors exporting to Egypt all recorded growth. Chemicals rose by 60%, steel by 7%, textiles by 34%, automotive by 22%, and electronics by 10%. We anticipate these figures will continue to grow in 2025. We are entering an era filled with tremendous opportunities. To seize these opportunities, we expect to enter a stronger period in bilateral trade. I believe this visit represents a significant step in reinforcing our cooperation.”

“Turkish investments in Egypt continue to expand”

Türkiye's Ambassador to Cairo, Salih Mutlu Şen, in his speech, stated that the bilateral trade volume between Türkiye and Egypt had increased by approximately $1 billion compared to 2023, reaching $8.8 billion in 2024.

Reminding that the trade volume between the two countries is expected to reach $10 billion by 2025, Şen highlighted that in 2024, Egypt had a trade surplus of approximately $300 million in the import-export balance and emphasized that this difference was both healthy and sustainable.

Underlining that Turkish investments in Egypt continue to expand and grow, Şen pointed out that Türkiye is one of the few countries where Egypt maintains a trade surplus, proving that the Free Trade Agreement functions effectively on a win-win basis.

Şen noted that Türkiye is Egypt's third-largest export market and expressed his expectation that Egypt will maintain its position among the top three over the next decade. He further stated that the Türkiye-Egypt Free Trade Agreement has facilitated trade and investment growth between the two nations, emphasizing that investment cannot increase without trade and that commercial activities play a critical role in this regard.

Explaining that a strong domestic industry is only possible through stable import relationships and long-term collaboration between exporters and importers, Ambassador Şen concluded by expressing his hope that this meeting would serve as a catalyst for strengthening bilateral trade relations.