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President Abdel Fattah El Sisi and Turkish President Recep Tayyip Erdoğan attended the closing session of the Egyptian-Turkish Business Forum, which was held in Cairo on Wednesday as part of the Turkish president’s official visit to Egypt.

The Presidency Spokesman Ambassador Mohamed el-Shennawy stated that the forum witnessed broad participation from representatives of the Egyptian and Turkish governments, alongside leading business figures from both countries. More than 460 heads and representatives of Turkish companies operating in Egypt or seeking new investment opportunities took part, in addition to around 270 representatives from the Egyptian private sector.

Forum sessions focused on ways to boost bilateral trade and highlighted investment opportunities available to Turkish companies in the Egyptian market.

 The Presidency Spokesman said that President Sisi delivered the closing address at the conclusion of the forum’s activities.

In his remarks, President Sisi expressed deep appreciation for the business communities in both countries, noting that their efforts over recent years have injected strong momentum into economic and trade co-operation, reflecting the depth of ties between Egypt and Türkiye.

“We are not meeting today (Wednesday) merely to strengthen existing partnerships. Rather, we are laying together the foundations for a new phase marked by ambition, with the core objective of maximizing mutual benefits for our two peoples, in line with the demands of the modern era and the requirements of a promising future,” El-Sisi said.

The President stressed that economic relations between Egypt and Türkiye are built on solid and practical foundations.

 He explained that strong economic partnership, geographic and cultural proximity, and the availability of political will—alongside the commitment of the business community—have helped achieve unprecedented levels of trade and investment co-operation.

Bilateral trade has reached nearly $9 billion, Sisi said, expressing aspirations to raise it to $15 billion or more. This growth, he added, has made Egypt Türkiye’s leading trading partner in Africa, while Türkiye remains one of the main destinations for Egyptian exports.

President Sisi noted that consultations with President Erdoğan confirmed a shared conviction that the full potential of co-operation between the two countries has yet to be realized. Both leaders agreed to work together to increase trade volumes and attract additional Turkish investments, particularly through Turkish participation in Egypt’s industrial development in priority sectors.

He highlighted that investors can benefit from Egypt’s ongoing structural reforms, a wide range of investment incentives, the country’s strategic location, and preferential access to international markets through free trade agreements. Egypt also offers a skilled labour force capable of supporting industrial expansion.

Over the past two years, the president noted, Egypt has continued to implement its economic reform program in co-operation with the International Monetary Fund (IMF), completing six reviews so far. These policies have led to clear improvements in financial and monetary indicators. Economic growth reached 5.3 percent in the first quarter of fiscal year 2025–2026, while private sector investment accounted for around 66 percent of total investments.

This, Sisi said, reflects the state’s firm commitment to empowering the private sector as the main driver of development. International credit rating agencies have recognized this progress by upgrading Egypt’s credit rating.

President Sisi pointed out that current global developments underscore the importance of localizing supply chains and bringing production closer to markets. This, he said, creates promising opportunities for Egyptian-Turkish partnerships to establish joint production and export platforms, combining Turkish industrial expertise with Egypt’s logistical advantages and market access.

He also underlined Egypt’s significant investments in infrastructure development since 2014, exceeding 550 billion dollars. These investments have included road networks, energy and water sectors, and the construction of smart cities. The aim, he explained, was not only to address current challenges, but to build a strong foundation for a modern, diversified, and investment-friendly economy.

Special attention has also been given to the logistics sector, with Egypt pursuing a national vision to become a global logistics hub through the development of commercial ports, including Alexandria Port, Ain Sokhna Port on the Red Sea, and East Port Said, which has been ranked among the world’s most efficient ports.

Concluding his remarks, President Sisi called on the business communities of both countries to focus on expanding joint industrial investments in high-value sectors, building logistics partnerships linked to Egyptian ports, strengthening co-operation in green transformation and clean manufacturing, and enhancing direct communication between companies to turn opportunities into concrete projects.

Source: The Egyptian Gazette