Egypt and Türkiye have agreed to work toward increasing bilateral trade volume from nearly $9 billion to $15 billion by 2028, while expanding cooperation across key sectors including energy, mining, transport, and automotive industries, Presidents Abdel Fattah El-Sisi and Recep Tayyip Erdoğan said during talks in Cairo.
The remarks came on the occasion of the second meeting of the High-Level Strategic Cooperation Council, co-chaired by the two presidents, underscoring a renewed push to deepen economic ties between the two countries.
President El-Sisi said the two sides agreed to enhance constructive cooperation in the coming phase and to direct Egyptian and Turkish companies and institutions toward achieving shared economic goals. He highlighted that Egypt is Türkiye's largest trading partner in Africa, while Türkiye ranks among the leading destinations for Egyptian exports.
El-Sisi stressed the importance of removing obstacles to trade, boosting investments, and expanding all forms of economic cooperation to support the target of raising bilateral trade to $15 billion.
For his part, President Erdoğan said Türkiye is taking “decisive steps” toward achieving the $15 billion trade target, noting that Turkish investments in Egypt are approaching $4 billion, contributing to job creation. He added that both countries aim to establish an integrated economic model that strengthens their ability to withstand global economic volatility.
Energy, Transport, and Tourism Cooperation
Erdoğan said investment opportunities will be discussed during the Egypt–Türkiye Business Forum, highlighting strong potential for joint projects in energy and transport, given their strategic importance for regional energy security.
He also pointed to the positive impact of closer ties on tourism, noting that more than 500,000 tourists have traveled between the two countries, expressing hope that this figure will double in the coming period.
A joint statement highlighted significant opportunities for further cooperation in automotive manufacturing, infrastructure development, and tourism, as well as agreements to collaborate on hydrocarbon and mining exploration and development in Egypt, including through public institutions. The two sides also agreed to exchange expertise in geological activities and advanced mining technologies.
Egypt and Türkiye signed several memoranda of understanding covering defense, investment, trade, agriculture, health, youth and sports, and social protection. They also agreed to establish a national committee to facilitate and monitor Turkish investments in Egypt, aimed at streamlining investment procedures.
The two countries further agreed to enhance cooperation in electricity and renewable energy under an MoU signed in September 2024, and to appoint national focal points to coordinate joint working groups in conventional energy, renewable energy and green hydrogen, and nuclear energy.
President Erdoğan’s visit to Cairo, part of a regional tour that included Saudi Arabia, marks his third visit to Egypt in the past two years.
Türkiye has been Egypt’s largest import market over the past three years, with industrial goods accounting for the bulk of Egypt’s exports to Türkiye, while petroleum exports represent no more than 12% of total Egyptian exports to the Turkish market.
