President Erdoğan: Egypt is our largest trading partner in Africa

President Erdoğan made significant remarks at the "Turkey-Egypt Business Forum Closing Session" in Cairo.

The highlights of Erdoğan's remarks are as follows:

Distinguished members of the press, I greet you with my most heartfelt feelings, with respect and affection. Peace be upon you, and the mercy and blessings of Allah. I am very pleased to come together with you, the representatives of our business world, on the occasion of our visit to Cairo. I thank my dear brother and the Egyptian authorities for the warm welcome they have shown from the very first moments of our visit. Today, at our High-Level Strategic Cooperation Council meeting, we also discussed the commercial and economic relations between our countries in detail. We signed agreements that will strengthen the legal framework of our relations, which are expanding in every field. I expressed to my dear brother that we are following with interest his 2030 vision, which will leave its mark on the future of Egypt. We are two major countries at the center of the developments that occupy the international agenda the most. We are all witnessing the contribution that the cooperation between us makes not only to our countries but also to the stability of our region. We are doing this in the most efficient way, especially in the fields of investment and trade... While protectionism and inward-looking policies are increasing in the global economy on one hand, it is seen that cooperation is gaining importance for the sustainability of prosperity on the other. In this increasingly difficult environment, I sincerely believe that our economies can grow stronger together with your support. There is a great potential waiting to be utilized at our fingertips. First of all, Egypt is our largest trading partner in Africa. We see that our trade volume with Egypt has exceeded 8 billion dollars. We rank third among the countries to which Egypt exports the most, with a 7.4 percent share, and seventh among the countries from which it imports the most, with a 3.4 percent share. These are, of course, figures that give us hope and encourage us. However, we are still behind our target of 15 billion dollars in trade volume. You, our business people, know very well that the deteriorating business environment in the world has been effective in this situation, despite all the measures taken. We, as leaders, are aware of this as well. In my meeting with my esteemed brother, we thoroughly consulted on the measures that will support our business world.

"OUR TARGET IS 15 BILLION DOLLARS"

Cooperation is gaining importance for the continuation of prosperity. Inward-looking policies are increasing in the global economy. Our trade volume with Egypt has currently exceeded 8 billion dollars. Our target is 15 billion dollars. We will resolutely continue our close work with him in line with our 15 billion dollar trade volume target. Our trade ministers, on the other hand, comprehensively discussed the steps to be taken today regarding the mutual strengthening of investments, the deepening of cooperation in technical matters, and the resolution of the problems you face. We hope to receive good news from our Egyptian friends regarding the removal of obstacles that our investors may encounter in matters such as residence, work permits, and licenses. Distinguished guests, every step we take to advance our cooperation has a multiplier effect in a very wide area. For example, Egypt's transition to a visa-on-arrival application has made a significant contribution to the increase in the number of tourists with business visits from Turkey. I believe that this will continue to multiply. As Turkey, we are very pleased to host our Egyptian brothers in our country. I know that Turkish tourists also show great interest in Egypt with its deep-rooted history, rich culture, and natural beauties. To evaluate additional measures to be taken on all these issues, our trade ministers will hold the next meeting of the high-level trade consultation mechanism in Ankara.

"I KNOW AND APPRECIATE THE VALUE SISI ATTACHES TO TURKISH ENTREPRENEURS"

We are continuing our efforts to update our free trade agreement to include agricultural products as well. We aim to make significant progress in this direction at the sixth joint committee meeting we wish to hold in Ankara this year. Regarding investments, Egypt is currently the second country to which Turkish investments are most directed. We are pleased to see that our investments in Egypt, which are approaching a total of 4 billion dollars, support the employment of one hundred thousand of our Egyptian brothers today. Our firms stand out with their successful work in many sectors, especially textiles, chemicals, glass, hygiene, manufacturing industry, and tourism. Turkish companies are leading firms with high export capacity in the sectors they are in. They have undertaken 27 projects in Egypt exceeding one billion dollars to date. We hope that our firms will take a share in the construction of the 14 new smart cities planned to be established within the scope of the 2030 vision. At this point, I know and appreciate the value that my brother, President Sisi, attaches to Turkish entrepreneurs.

"WE WANT TO WORK TOGETHER ON THE RECONSTRUCTION OF GAZA"

I would like to thank my dear brother for his trust in the Turkish business world and for supporting Turkish firms. I would also like to express this here: Turkey and Egypt, in addition to being two brotherly nations, are two powerful states with responsibilities that extend beyond their borders in the region. Throughout all these events, including Israel's targeted attacks on Gaza, Egypt has successfully passed serious tests with its state and its people. We always remember with gratitude the cooperation demonstrated by Egyptian authorities in delivering the humanitarian aid we send to our brothers and sisters in Gaza. I am a close witness to the President's sensitivity on this issue. We want to work together with Egypt on the reconstruction of Gaza as well. I sincerely believe that when the technology and standards possessed by the Turkish contracting sector are combined with Egypt's manpower and experience, we can overcome large-scale projects in Africa and Asia. Distinguished representatives of our business world, we have much more work to do in the fields of energy, mining, and raw materials in the coming period. I find it important to restart the Ro-Ro shipping services, which made their first voyage in 2012, in a way that serves the mutual interests of both sides. We can continue the existing cooperation in airport construction and operation in the coming period as well. City hospitals are one of the vision projects that I have dreamed of and brought to life. So far, we have opened 27 city hospitals with a total bed capacity of 39,217. These works, which are massive health complexes, have turned into a brand in their own right. They have become one of the symbols of the Turkish healthcare system. I have learned with pleasure that experience sharing has begun, especially within the scope of our city hospitals built with the build-operate-transfer model. We can also work together in the field of shipbuilding with Egypt, which has an important place in world maritime transport due to the Suez Canal. We are always ready on a win-win basis. As you can see, there are truly tremendous opportunities for cooperation between the two countries. It is you who will evaluate these opportunities, and it is us who will support you. As long as you work, produce, and provide employment, we will continue to pave the way for you. We are open to all kinds of suggestions on the path to the 15 billion dollar trade target. I pray that God may clear our path and our fortune. With these thoughts, I thank each and every one of you for the efforts and work you have shown to further strengthen the commercial and economic ties between Turkey and Egypt. I thank those who contributed to the organization of the forum and our esteemed business circles who participated. I congratulate you in advance on the holy month of Ramadan, which we will reach in 13 days, and I pray to God that the blessed Ramadan brings goodness to the entire Islamic world, along with my Egyptian brothers and sisters. Hoping to meet again, I greet you with love and respect. Stay well.