President Abdel Fattah El Sisi’s visit to Ankara, the first since assuming the office in 2014, comes as both nations are moving forward to normalise ties after a decade of rapture. The visit comes at the invitation of Turkish President Recep Tayyip Erdogan, according to a statement from the Turkish Directorate of Communications.
During the visit, both leaders co-chaired the first meeting of the High-Level Strategic Co-operation Council. This council was established following the Joint Declaration signed during Erdogan’s visit to Cairo in February.
The two leaders have signed a raft of agreements in various fields, aiming at strengthening the contractual framework of Egyptian-Turkish relations, according to the statement.
President Sisi’s visit to Türkiye comes at a time conflicts are spilling over into the stability of the region, including the Israeli war on Gaza, the Libyan and Syrian crises, and the tension in the Red Sea and Horn of Africa regions.
Such regional developments entail continued coordination between Cairo and Ankara to be able to outline a unified vision to solve all those problems that negatively affect their interests.
Turkish President RecepTayyip Erdogan’s visit to Egypt on February 14 of this year also marked a milestone in diplomatic relations between the two countries.
Putting Egypt-Türkiye relations on sustainable footing
A key turning point to put relations between Cairo and Ankara on track was the meeting between Presidents Erdoğan and Sisi in November 2022 in Doha, thanks to Qatar’s “football diplomacy” effort during the FIFA World Cup. In May 2023, Egypt and Türkiye upgraded their diplomatic relations to the ambassadorial level as the two countries moved forward with measures to restore relations on all levels, ending a ten-year rift.
Additionally, direct talks between Turkish President Erdogan and President Sisi took place on September 10, 2023, on the sidelines of the G20 summit in New Delhi, resulting in the Turkish President’s landmark visit to Cairo in February 2024.
Energy ties
Collaboration in energy sector and a shared presence in the Eastern Mediterranean region have opened significant opportunities for enhancing Egyptian-Turkish relations. Both countries are looking to expand co-operation in energy, particularly in liquefied natural gas (LNG), nuclear, and renewable energy sectors.
Economic co-operation
In terms of the economy and industry, there are numerous shared interests that can enhance strategic co-operation between Egypt and Türkiye. Egypt holds a significant position as Türkiye’s primary trade partner in Africa. Türkiye and Egypt aim to increase trade volume from $10 billion to $15 billion during the coming few years.
Exports, imports
Last year, Türkiye exported $3 billion worth of goods to Egypt, while imports from Egypt stood at $3.1 billion, resulting in a total trade volume of $6.1 billion.
Türkiye’s primary exports to Egypt included boilers, machinery, mechanical appliances, nuclear reactors and their parts, iron and steel, and plastics.
Meanwhile, Türkiye imported mainly plastics, fertilisers, and iron and steel from Egypt.
In the first seven months of this year, Türkiye’s exports to Egypt reached $1.904 billion, with imports totaling $1.911 billion, bringing the total trade volume to $3.815 billion.
Investments
Türkiye’s investments in Egypt have increased to $3 billion in mid-2024 in the sectors of energy, retail, transportation, and household appliances. In Türkiye’s total overseas direct investment stock of $46.5 billion, Egypt ranks 19th with $294 million. On the other hand, Egypt ranks 36th among foreign countries investing in Türkiye, with $45 million out of the $130 billion in foreign direct investment. The steps are taken during President Sisi’s visit will increase the share of both countries in direct investments.
Trade
Trade between Egypt and Türkiye has significantly increased over the past two years, following almost a decade of strained relations, according to the Central Bank of Egypt (CBE).
The volume of trade exchange between Cairo and Ankara went up by 82 per cent during the fiscal year 2021-2022 to roughly $6.78 billion, marking its highest level in the past 10 years, CBE data showed.
Trade also recorded nearly $2 billion in the first half of 2024.
Defence, military ties
In the same vein, the defence and military sectors play a significant role in the co-operation between Türkiye and Egypt. This is evident through their mutual arms deals and joint military production projects. It is apparent that Türkiye’s industrial military base is aiming for a strategic co-operation with Egypt. Recently, Turkish Foreign Minister Hakan Fidan announced that Türkiye would be supplying combat drones to Egypt, which further demonstrates the growing close ties between the two nations.
