The understanding was reached during the second meeting of the high-level trade consultation mechanism between the two sides, held in the Egyptian capital, according to the Anadolu Agency. The meeting included discussions on a wide range of issues related to investments, customs cooperation, and specialized sectors, as well as shared challenges, with an emphasis on the need to provide a stable and predictable trade and investment environment.
It was also noted that high-level communication in recent times has fostered a climate of trust between the two countries. The sixth joint committee meeting of the Free Trade Agreement, scheduled for this month, is expected to provide an opportunity to update and develop the agreement.
In the context of economic announcements, the statement affirmed that both Turkey and Egypt are considered leading economies in their regions, thanks to their strategic location and strong economic capabilities. It explained that Turkey is a member of the G20 due to its dynamic industry, while Egypt is one of the largest economies in Africa and a prominent trade hub in the region.
Under the new understandings, the statement said: “An understanding was reached for companies from both countries to develop joint projects in third countries, especially in Africa, in addition to working on restarting the Ro-Ro line to support bilateral trade and expanding areas of cooperation in the coming phase, particularly in the sectors of tourism, agriculture, energy, pharmaceuticals, automotive, health, digital technologies, and construction.”
The statement added that the high-level trade consultation mechanism at the ministerial level, which held its first meeting in 2012, has been activated with the development of relations with Egypt, and the ministers agreed to hold the next meeting in Ankara in 2026. It is noted that “Ro-Ro” stands for “roll-on roll-off,” a maritime transport system used for exporting products via trucks loaded on roll-on roll-off ships designed to carry cars, locomotives, and trucks between two ports, with the shipments continuing their journey by land thereafter.
The second meeting of the high-level trade consultation mechanism between the two sides was held last Wednesday in Cairo, with the participation of Turkish Trade Minister Ömer Bolat and Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib. It is noted that the trade volume between Turkey and Egypt reached $8.8 billion in 2024, an increase of $1 billion from the previous year, and is expected to reach $10 billion by the end of 2025, according to previous statements by the Turkish ambassador.
