Ahmed Kouchouk, Minister of Finance, said Egypt is seeking deeper economic integration with Türkiye that would enable joint manufacturing and exporting to global markets, highlighting the complementary nature of both countries’ economic capabilities.
Speaking during an open video-conference dialogue with 250 leading Turkish investors participating in the meeting of the Egyptian and Turkish chambers of commerce in New Alamein City, Kouchouk underscored Egypt’s strong competitive advantages, including its advanced infrastructure, strategic geographic location, and wide range of promising investment opportunities.
He said bilateral relations between Egypt and Türkiye are strong, noting that the private sectors in both countries are well positioned to drive further mutual investment. There remains significant potential to expand economic cooperation, particularly in food industries, engineering industries, garments, and home appliances, he added. Kouchouk also stressed that joint memoranda of understanding signed between the Egyptian Chamber of Commerce and its Turkish counterpart represent an important step towards strengthening economic integration.
The finance minister pointed to the strong improvement in Egypt’s economic performance, noting that private sector investment rose by 73% last year and continues to show robust momentum. He highlighted the growing investment inflows into the Suez Canal Economic Zone as a successful model for regional and international partnerships.
Kouchouk also noted a marked improvement in the performance of non-oil merchandise exports and service exports during the last financial year, alongside increased and more diversified foreign direct investment inflows. He said the government’s objective is to position Egypt as a regional hub for production and export, serving markets across the Middle East and the African continent.
He added that first-quarter indicators for the current financial year reflect continued economic improvement, with the private sector leading growth. The government, he said, remains committed to maintaining fiscal discipline while simultaneously stimulating economic activity to improve debt indicators. This discipline, he explained, creates additional fiscal space that will be directed towards greater spending on human development and social protection for the most vulnerable groups.
Kouchouk reaffirmed the government’s commitment to simplifying and facilitating procedures to support private sector growth, ensuring that fiscal policies are more supportive of industrial, productive, and export-oriented activities. He stressed that ongoing tax and customs facilitation measures aim to build a relationship of trust with the business community and enhance the competitiveness of the Egyptian economy.
For his part, Ahmed El-Wakil, Chairperson of the Federation of Egyptian Chambers of Commerce, said he was pleased to host the annual meeting of the Union of Turkish Chambers and Commodity Exchanges in New Alamein City. He noted that the event aims to promote industrial zones in Alamein, Gargoub, and Borg El Arab as attractive destinations for increased Turkish investment.
El-Wakil added that efforts are underway to deepen regional economic partnerships and give the private sector a greater role in supporting sustainable development.
