The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President Rifat Hisarcıklıoğlu will meet with the Egyptian Federation of Chambers of Commerce (FEDCOC) President İbrahim Al Arabi and the accompanying business people delegation at TOBB tomorrow. The meeting is important for the development of trade and economic relations between the two countries.
Hisarcıklıoğlu visited Cairo on September 28, 2021, upon the invitation of El Arabi. El Arabi is also making a return visit with the business people delegation, upon the invitation of TOBB.
"There is a Turkish investment of over 2 billion dollars in Egypt"
Rifat Hisarcıklıoğlu told Anadolu Agency (AA) that TOBB and FEDCOC have been working closely for a long time. said.
Pointing out that mutual trade with this country has improved thanks to the Free Trade Agreement, Hisarcıklıoğlu stated that there is a Turkish investment of over 2 billion dollars in Egypt. Hisarcıklıoğlu pointed out that approximately 200 Turkish companies operating in Egypt create around 68 thousand jobs and said, "We can improve the economic aspect of our relations much more. We hope that this visit will contribute to the development of mutual commercial and economic relations." he said.
According to the information received from TOBB, the trade volume between Egypt and Turkey increased to 5.8 billion dollars in the 11 months of 2021. In the same period of 2020, the trade volume, which was 3.8 billion, increased by about 35 percent. In the 11-month period of 2020, imports from this country amounted to 1.5 billion dollars, while exports amounted to 2.7 billion dollars. In the same period of 2021, imports were recorded as 1.9 billion dollars and exports as 3.9 billion dollars.
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