Turkish corporations have dedicated to $500 million in new investments in Egypt after a visiting business delegation met the prime minister for the primary time in a decade, the Egyptian cupboard stated, the newest signal of a thaw in relations.
Diplomatic relations between Egypt and Türkiye had been severed after Egyptian President Abdel Fattah al-Sisi, then military chief, led the 2013 overthrow of the Muslim Brotherhood’s Mohamed Mursi, a detailed ally of Türkiye.
Relations started thawing in 2021, a part of a push by Türkiye to ease tensions with a number of regional powers. Though Egyptian officers have been extra cautious about reconciliation, President Recep Tayyip Erdoğan and Sisi met and shook arms in the course of the 2022 World Cup in Qatar.
“Regardless of any previous political disagreements, we have always been keen to maintain the relations between our peoples and our close economic and commercial cooperation,” Egyptian Prime Minister Moustafa Madbouly stated in a cupboard assertion launched late on Wednesday.
Trade ties between Türkiye and Egypt have continued regardless of the diplomatic freeze, however each nations have lately been trying to bolster regional monetary ties to assist their ailing economies.
The companies visiting Egypt, a few of which have already got operations there, characterize industrial growth, textiles, garments manufacturing, electronics, and medical provides, the assertion stated. Turkish investments in Egypt complete $2 billion, it added.
Sisi spoke by telephone to Erdoğan final week providing condolences and assist after the lethal earthquake that struck Türkiye this month.
Egypt additionally despatched 5 army planes to Syria and Türkiye with medicines and medical provides, the ministry of protection stated on Friday.
Source: www.dailysabah.com
