Egypt and Türkiye have agreed to work jointly to boost bilateral trade and attract more Turkish investments in a way that achieves mutual benefit, Egyptian President Abdel Fattah al-Sisi said on Wednesday evening.
Sisi made the remarks during the closing session of the Türkiye-Egypt Business Forum, held in Cairo, with the participation of Turkish President Recep Tayyip Erdoğan, senior officials, and business leaders from both countries.
The Egyptian president expressed his "deep appreciation for the business communities in the two countries," saying they had succeeded in recent years to give increasing momentum to economic and trade cooperation, reflecting the strength of ties and shared interests between Egypt and Türkiye.
He said that strong foundations for economic integration, alongside geographic and cultural proximity, as well as political will and the determination of the business community, have helped the two sides to reach "unprecedented levels" of trade and investment cooperation.
According to Sisi, bilateral trade has reached around $9 billion, with aspirations to raise it to $15 billion or more, making Egypt Türkiye's leading trading partner in Africa, while Türkiye ranks among the top destinations for Egyptian exports.
He added that Turkish investments in Egypt have exceeded $4 billion.
Marking 100 years since the establishment of diplomatic relations between Egypt and Türkiye, Sisi said his consultations with Erdoğan showed broad consensus that the full potential of cooperation "has not yet been fully utilized."
He said both sides agreed to intensify joint efforts to increase their trade volume and attract additional Turkish investments.
Sisi also highlighted the "successful experience" of Turkish investors in Egypt's ready-made garments and textiles sector, noting that their contribution represents a significant share of Egypt's exports in this field.
On the domestic economy, Sisi said Egypt has continued implementing its economic reform program over the past two years in cooperation with the International Monetary Fund.
He said the applied policies have resulted in "a noticeable improvement" in fiscal and monetary indicators, with economic growth reaching 5.3% in the first quarter of fiscal year 2025-2026, while private sector investments accounted for about 66% of total investments.
Sisi pointed to Egypt's efforts since 2014 to develop infrastructure, saying investments exceeding $550 billion have been injected into upgrading road networks, developing the energy and water sectors, and building smart cities.
He also underscored the importance Egypt attaches to the logistics sector, citing a national vision to transform the country into a global logistics hub through the development of commercial ports, including Alexandria Port, Ain Sokhna Port on the Red Sea, and East Port Said, which he said ranks among the world's most efficient ports.
