Sisi and Erdogan at the conclusion of the Egyptian-Turkish Business Forum in Cairo
In a move reflecting the depth of the positive shift in the course of relations between Cairo and Ankara, Egyptian President Abdel Fattah al-Sisi and his Turkish counterpart Recep Tayyip Erdogan participated in the closing session of the Egyptian-Turkish Business Forum, which was held in the Egyptian capital, Cairo, amid a notable presence of representatives of the two governments and an elite group of senior businessmen and investors from both countries.
Promising economic prospects and a renewed partnership
The official spokesman for the Egyptian Presidency, Ambassador Mohamed El Shenawy, explained that the forum’s activities focused primarily on exploring ways to enhance and increase trade exchange rates, in addition to reviewing the promising investment opportunities available to Turkish companies in the Egyptian market, especially in industrial zones and major national projects.
In his closing remarks, President Abdel Fattah al-Sisi emphasized that the economic relations between Egypt and Turkey are not a recent development, but rather are based on solid and practical foundations. He pointed to the significant potential for economic integration between the two countries, bolstered by geographical proximity and a shared cultural heritage, as well as the strong political will of both leaderships and the desire of the business community to expand into broader horizons. This, he noted, has already contributed to achieving unprecedented levels of trade and investment cooperation in recent times.
Türkiye and Egypt: Pillars of Regional Stability
For his part, Turkish President Recep Tayyip Erdoğan emphasized in his speech that Egypt and Turkey are not merely neighboring countries, but pivotal nations at the heart of developments shaping the international agenda. Erdoğan explained that the fruits of this bilateral cooperation will not be limited to achieving development and prosperity for the Egyptian and Turkish peoples, but will extend to strengthening stability and security in the Middle East and Eastern Mediterranean region.
Historical context and ambitious goals
This high-level participation marks the culmination of a gradual normalization process between the two countries after years of strained relations, as Cairo and Ankara seek to turn the page on the past and focus on shared interests. The two countries aim to increase trade volume to $15 billion in the coming years, leveraging existing trade agreements, Egypt's strategic location as a gateway to African markets, and Turkey's industrial and technological capabilities.
This event is of particular importance in light of global economic and geopolitical challenges, as observers believe that the Egyptian-Turkish rapprochement represents a reshaping of the economic and political map in the region, which enhances the ability of the two countries to confront regional crises, from the situation in Gaza to energy issues in the Eastern Mediterranean, making the business forum a real starting point towards a sustainable strategic alliance.
