A number of memorandum of understanding (MoUs) across various sectors were signed during the Egyptian-Turkish Chambers of Commerce meeting in New Alamein on Tuesday, attended by Turkish Finance Minister Mehmet Simsek.
The agreements aim to deepen bilateral co-operation in trade and investment, support joint exports to free trade areas, and foster alliances in construction and infrastructure projects.
Following the signing ceremony, Minister of Finance Ahmed Kouchouk highlighted, via video conference, the diverse economic capacities of Egypt and Türkiye, reasserting the importance of creating integration opportunities to enable joint manufacturing and exports to global markets.
He pointed to Egypt’s strong competitive advantages, including robust infrastructure, a strategic geographic location, and promising economic opportunities.
“The relations between Egypt and Türkiye are strong, and the private sectors in both countries have the potential to significantly increase mutual investments,” Kouchouk said. “There is considerable room to expand economic co-operation, particularly in the food, engineering, and household appliances industries.”
He noted that Egypt’s economy continues to show strong improvement, with private sector investments rising by 73 percent last year. Kouchouk also highlighted the growing investment inflow to the Suez Canal Economic Zone as a successful model of regional and international partnerships. He added that non-oil exports have shown significant improvement over the past fiscal year, alongside increased and diversified foreign direct investment, with the aim of positioning Egypt as a regional and African hub for production and export.
Kouchouk reaffirmed the government’s commitment to simplifying procedures and stimulating private sector growth, ensuring that Egypt’s fiscal policies increasingly support industrial, productive, and export-oriented activities.
Ahmed El-Wakeel, Chairman of the Egyptian Chambers of Commerce Union, said the union was pleased to host the annual meeting of the Turkish Chambers of Commerce and Commodity Exchanges in New Alamein City. He highlighted efforts to promote industrial zones in Alamein, Gergoub, and Borg El Arab to attract more Turkish investment.
