– Egypt and Turkey aim to nearly triple their bilateral trade from USD 5 billion to USD 15 billion over the next five years, with an initial target of USD 8 billion by next year.

– The two nations signed 18 MoUs covering diverse sectors including transport, energy, defense, and agriculture, highlighting Turkey’s interest in deepening cooperation on natural gas and nuclear energy.

– A delegation of Egyptian businessmen will soon visit Turkey to explore trade and investment opportunities, focusing on strengthening economic ties and identifying strategic partnerships in key industries.

Egypt and Turkey have set targets to nearly triple their bilateral trade, aiming to grow from USD 5 billion to USD 15 billion over the next five years.

This bold goal was highlighted during President El Sisi’s visit to Turkey, marking the first official visit by an Egyptian president in 12 years. Both nations recognize the potential for economic cooperation, driven by their geographic proximity and historical ties, which have long provided a foundation for trade and investment.

As part of the immediate plan, Egypt and Turkey seek to increase trade volume to USD 8 billion by next year, up from USD 6.6 billion in 2022.

This expansion is likely to be fueled by new opportunities for Turkish businesses in Egypt, with El Sisi signaling potential facilitations, such as streamlined regulations or incentives to encourage Turkish investments.

The success of this strategy hinges on how effectively the two countries can reduce bureaucratic hurdles and create a conducive environment for private sector engagement.

Furthermore, the signing of 18 Memoranda of Understanding (MoUs) demonstrates the breadth of the partnership, covering sectors such as transport, energy, defense, education, and agriculture.

Of particular note is Turkey’s keen interest in expanding cooperation in natural gas and nuclear energy. As the global energy landscape continues to evolve, both countries could benefit from enhanced energy collaboration, which may help Egypt achieve its energy security goals while providing Turkey with new opportunities in energy imports and investments.