Global Arab Network | Egypt and Turkey: Trade exchange to reach $ 10 billion

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Egypt and Turkey: Trade exchange to reach $ 10 billion

Global Arab Network - - Asmaa Malik

Thursday, 15 September 2011 22:35

http://www.english.globalarabnetwork.com/images/stories/2010/Oct/undefined/Egyptian-Turkish_flag.jpg

Global Arab Network – Egyptian Prime Minister Essam Sharaf and his Turkish counterpart Recep Tayyip Erdogan attended the inauguration session of the Egyptian-Turkish economic forum.

Speaking at the inaugural session of the Egyptian-Turkish economic forum, Prime Minister Essam Sharaf said that Egypt and Turkey should play an effective role in the region.

Egypt and Turkey enjoy great potentials in natural resources and a huge market stretching to African and Asian continents, he added.

The region's future depends on recognizing the role played by Egypt and Turkey, Sharaf said, noting that this role lies on two pillars; politics and economy.

He further said that the two countries share identical views on the Palestinian cause along with the situation in Libya, Syria, Yemen, Somalia and Iraq.

"We pledged to increase the volume of trade exchange between the two countries to reach 10 billion dollars over the coming four years," Sharaf said.

Osama Saleh head of the general authority for investment and free zones, for his part, confirmed that the volume of Turkish investments in Egypt amounted to $ 1.8 billion.

The general authority for investment has made a number of proposals aimed at boosting cooperation between Egypt and Turkey.

Thus, the trade exchange between Turkey and African countries will increase and the joint ventures in Africa will be established, Saleh added.

Egyptian-Turkish cooperation important in coming phase

Head of the Egyptian Businessmen Association Hussein Sabbour on Wednesday 14/9/2011 highlighted the importance of Egyptian-Turkish economic cooperation in the coming phase.

In press statements on the sidelines of the Egyptian-Turkish economic forum, he added that Turkish keenness on boosting economic cooperation with Egypt was clear with more than 200 Turkish businessmen accompanying their Prime Minister Recep Tayyip Erdogan during his current visit here.

The coming phase will see holding several projects of reconstruction and building in some countries such as Libya and South Sudan, he said, adding that coordination is very important so as not to allow the United States and European countries to have the lion's share of investments in these projects, as was the case in Iraq.

Global Arab Network

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