By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    Al-Sisi directs development of imams to keep abreast of contemporary issues
    March 29, 2023
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    Egyptian Health Minister directs accelerating completion of New Heart Institute in El-Shorouk 
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt, Turkey put aside differences to boost business relations
Share
Notification
Latest News
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
Volatile trading on EGX amid anticipation of interest rate movement
Volatile trading on EGX amid anticipation of interest rate movement
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Economy > Egypt, Turkey put aside differences to boost business relations
Economy

Egypt, Turkey put aside differences to boost business relations

Elsayed Solyman
Last updated: 2017/11/27 at 6:57 PM
By Elsayed Solyman 3 Min Read
Share
Image processed by CodeCarvings Piczard ### FREE Community Edition ### on 2016-07-12 14:50:06Z | http://piczard.com | http://codecarvings.com¥ät—R›
SHARE

Egypt and Turkey have decided to put aside their political differences in order to boost their business relations after four years of apathy, as the Turkish city of Konya is holding a major economic conference that will see attendance by businesspeople from both sides.

On the sidelines of the first day of the conference that kicked off on Monday, Atilla Ataseven, head of the Turkish & Egyptian Businessmen Association (TUMIAD), said in a presser that “the conference aims at discussing the targetted first Turkish industrial zone in Egypt, which will include a number of factories and workshops.”

The value of the investments in the new industrial zone is worth EGP 3bn, and will create many jobs in the Egyptian market.

He also announced that Turkey will establish a factory for the luxurious glass brand Paşabahçe in Egypt, as one of their efforts to challenge the prevalence of low quality Chinese imports.

“We want Egypt to be able to export Turkish brands’ products with the statement ‘Made in Egypt’ stamped on them,” said Ataseven.

Manufacturing Turkish products in Egypt will enable Turkish businesses to make use of the Qualifying Industrial Zones (QIZ) agreement, which enables them to export their products to the US without customs.

Ataseven said, “the conference targets activating the already signed agreement between Egypt and Turkey from 2012, which guarantees mutual customs exemption for products from both countries.

Turkey has already exempted Egyptian products from customs, while Egypt agreed to gradually eliminate taxes on Turkish products until they are totally exempt by 2020.

“Turkish-Egyptian relationships are deep-rooted in geography, history, interests, and religion.”

He also added that the economic relations between both countries prove they are key for a healthy relationship, aside from political tensions.

The Turkish investment plan will take another step forward in March, as Ataseven announced that they will inaugurate a conference titled “Let’s Manufacture Together” in March 2018.

This will coincide with the inauguration of several projects related to industry and industrial education.

You Might Also Like

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Egypt has great cooperation opportunities with Greek, Cypriot firms in several economic sectors: Al-Mashat

Opinion| Türkiye and Egypt: For better times with many opportunities

Beyond GDP: Changing how we measure progress is key to tackling a world in crisis

TAGGED: Business, Economy, Egypt, Turkey
Share this Article
Facebook Twitter Email Print
Previous Article Gold rises on surge on world exchanges
Next Article 2,000 industrial licenses issued since announcing bylaws
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?