Egypt’s Minister of Trade and Industry Ahmed Samir met with officials from major Turkish companies in Ankara on Tuesday to discuss investment opportunities in Egypt.
The companies, which work in the fields of home appliances, textiles, carpets, energy, furniture, heavy industries, and engineering industries, are interested in entering or expanding their investments in Egypt.
Samir said that the Egyptian government is keen to provide all forms of support to Turkish companies operating in Egypt, as well as those targeting the Egyptian market in the coming period.
During the meetings, Samir discussed the companies’ plans to invest in Egypt, as well as the investment opportunities available in the country. He also invited the companies to visit Egypt to further explore investment opportunities.
One of the companies that Samir met with is Vestel, a Turkish home appliances manufacturer. Vestel is interested in establishing a factory in Egypt that would produce home appliances for the Egyptian and African markets.
Another company that Samir met with is Berdan, a Turkish manufacturer of metal supplies. Berdan is interested in expanding its operations in Egypt and supplying the Egyptian market with its metal products.
Samir also met with Milat, a Turkish furniture and carpet manufacturer. Milat is interested in establishing a factory in Egypt to produce furniture and carpets for the Egyptian market.
In addition to meeting with the companies, Samir also met with officials from Ziraat Bank, the largest government bank in Turkey. Ziraat Bank is interested in establishing a branch in Egypt to finance Turkish companies that are investing in Egypt.
Samir said that the meetings with the Turkish companies were fruitful and that they resulted in a number of agreements to invest in Egypt.
He added that the Egyptian government is committed to providing all forms of support to Turkish companies that are interested in investing in Egypt.
The meetings, which took place in Ankara, were attended by Egypt’s ambassador to Turkey, Amr Elhamamy, as well as Yahya Al-Wathiq Billah, head of the Egyptian Commercial Service, and Amani Al-Wasal, head of the Agreements and Foreign Trade Sector at GOEIC.
The meetings between Samir and the Turkish companies come as Egypt and Turkey are seeking to strengthen their economic ties. In 2021, the trade volume between Egypt and Turkey reached $10bn.