Turkish President Recep Tayyip Erdogan’s visit to Egypt is expected to enhance economic co-operation and trade exchange especially as the two countries enjoy distinguished economic relations.
The great economic relations between the two countries resulted that Turkey came on top of markets for the Egyptian exports as well as a growth in trade and investment between the two countries.
The Turkish investments are considered as one of the most important foreign investments in Egypt as the Turkish companies are among the most foreign companies contributing to the Egyptian exports to Turkey, EU or US.
The volume of trade between the two countries reached USD 5.875 billion in 2023 as the Egyptian exports to Turkey increased to reach USD 2.934 billion comparing to USD 2.288 billion in 2022.
The exports include chemicals and fertilizers, construction materials, spinning and textiles, engineering and electronic products, readymade clothes and agriculture crops.
While Turkey exports to Egypt declined in 2023 to reach USD 2.941 billion comparing to USD 3.573 billion in 2022.
