Cairo, Egypt – (African Boulevard News) – Egyptian trade and industry minister, Ahmed Samir, is all set to visit Turkey this month to explore investment opportunities between the two countries. The visit aims to boost bilateral trade and investment relations and foster economic cooperation between the two eastern Mediterranean countries.
Egypt and Turkey have long-standing diplomatic and economic ties, with Turkey being one of the major trading partners of Egypt in the region. During his visit, Samir plans to meet Turkish business leaders and investors to discuss opportunities for trade and investment in Egypt’s growing economy. The visit also aims to attract more Turkish investments into Egypt’s mega projects, such as the development of the Suez Canal Economic Zone and the New Administrative Capital.
According to the International Monetary Fund (IMF), Egypt’s economy is expected to grow by around 5.2% in 2022, supported by the government’s ongoing economic reform program and significant investments in infrastructure. The trade minister’s visit is expected to further boost Egypt’s economic growth and help the country attract more foreign direct investment.
In a statement ahead of his visit, Samir said, “We are looking forward to exploring investment opportunities with Turkey and attracting more Turkish businesses to invest in Egypt’s promising sectors. We believe that there is great potential for the two countries to work together and achieve mutual benefits.”
Egypt is currently focusing on attracting foreign investment in sectors such as renewable energy, tourism, and agriculture. The country’s strategic location and large market size make it an attractive destination for foreign investors looking to expand their businesses in the region.
Several big Turkish companies have already invested in Egypt’s energy and real estate sectors, including Calik Holding and Limak Holding. These investments have helped to create employment opportunities and boost the country’s economic growth.
In conclusion, Samir’s visit to Turkey is a positive step towards enhancing bilateral trade and investment relations between the two countries. The visit is expected to help Egypt attract more foreign investments, particularly from Turkey, and contribute to the country’s economic growth. With both countries looking to expand their economies, it is an opportune time for them to collaborate and strengthen their economic ties.