Egypt and Türkiye are looking to strengthen economic ties following a high-level meeting between Egypt's Minister of Planning and Economic Development Rania Al-Mashat and Turkish Treasury and Finance Minister Mehmet Şimşek on Wednesday. The meeting took place on the sidelines of the European Bank for Reconstruction and Development's (EBRD) 34th Annual Meeting and Business Forum, being held in London from May 13 to 15 under the theme Expanding Horizons, Enduring Strengths. Minister Al-Mashat said the historic visit of Egyptian President Abdel Fattah El-Sisi to Ankara in September 2024 marked a "turning point" in relations between the two countries, paving the way for closer cooperation and strategic partnership. She noted that trade between Egypt and Türkiye reached $3 billion in the first half of 2024, underscoring strong commercial links. Investment flows are also gaining momentum, she added, as Egypt continues to roll out reforms aimed at empowering the private sector and attracting both domestic and foreign investors. Minister Al-Mashat said Egypt is open to deeper cooperation in manufacturing and knowledge-sharing across sectors outlined in a memorandum of understanding signed during the presidential visit. She also reaffirmed Cairo's strong ties with multilateral and regional institutions, as well as UN agencies, to support its sustainable development agenda. Attribution: Amwal Al Ghad English
