Finance Egypt-Turkey trade hits nearly $6bn in 2023 By Pramod Kumar February 14, 2024, 6:07 AM Reuters/Mohamed Abd El Ghany Turkey was Egypt’s largest recipient of exports last year, as tradse between the two countries rose to nearly $6bn Trade between Egypt and Turkey reached nearly $6 billion in 2023, Egypt’s trade and industry minister, Ahmed Samir, has disclosed. Egypt’s exports to Turkey rose 28 percent year on year to nearly $3 billion last year. “Turkey has become Egypt’s largest recipient of exports in 2023 and one of its key trading partners,” Egypt Today newspaper said, citing the minister. Egyptian cement exports grow 22% in 2023 Turkey targets 2024 chemical export revenues of $35bn $300m food processing complex planned for Egypt The biggest export sectors included chemical products, fertilisers, building materials, textiles, electronic and engineering goods, ready-made garments and agricultural products. Samir said that imports from Turkey fell 17.7 percent year on year to nearly $3 billion, reducing the trade deficit to $7 million last year, from $1.3 billion in 2022. The newspaper also reported that a Turkish trade association announced plans to establish an industrial zone in Egypt. The project will be a replica of the existing industrial zone in Bursa, Turkey, which focuses on sectors such as textiles, automobiles, aluminium, machinery, equipment, and advanced technologies. No details were given on the proposed location and investment.
