Trade between Türkiye and Egypt reached a record $8.5 billion in 2024, with the balance of trade slightly in Egypt's favour, Turkish Ambassador to Cairo Salih Mutlu Şen told Amwal Al Ghad English in an exclusive interview on Sunday. Speaking on the sidelines of the 10th Builders of Egypt Forum, Şen described the trade relationship as "very healthy," noting that the figure excludes liquefied natural gas (LNG) due to Egypt's suspension of exports. He said bilateral trade is expected to be "a similar level of trade this year." Şen added that both sides are aiming to expand bilateral trade to $15 billion within five years. "The advantages are already there — the free trade agreement is working, and transportation connectivity between the two countries offers unrivalled benefits." The ambassador highlighted textiles and machinery as key sectors for growth, noting that Turkish firms increasingly see Egypt as a hub for regional and global expansion. He pointed to lower investment costs and access to major buyers like Nike and Adidas as driving forces behind the trend. "Egypt offers great integration opportunities for textile producers. Companies investing here get better terms from banks and easier access to global markets," he said, adding that the trend is on the rise and should be supported further. While no agreements were expected during the conference, Şen said Türkiye is keen to expand cooperation with Egypt in coastal management, sustainable tourism and knowledge sharing. "There is readiness on both sides. These ideas could pave the way for technical cooperation and future MoUs," Şen said. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
