During the meeting, Minister Bolat expressed their joint commitment to strengthen bilateral trade relations and outlined the key objectives of the newly agreed-upon roadmap. The main highlights of the roadmap include:

Both countries have set an ambitious target of raising their mutual trade volume to $15 billion within the next five years. This significant increase aims to bolster economic cooperation and unlock fresh opportunities for businesses in Turkey and Egypt.

The ministers agreed to convene a joint committee meeting to accelerate the development of a free trade agreement. This pact is expected to further facilitate trade flows, reduce trade barriers, and enhance economic integration between the two nations.

Recognizing the potential for mutually beneficial investment opportunities, Turkey and Egypt have pledged to foster stronger cooperation in investments and contracting services. This step aims to harness the expertise of both countries in various sectors and promote growth in their economies.

In a bid to mitigate currency exchange risks and bolster financial cooperation, the two nations will explore the possibility of conducting trade transactions using their local currencies. This move is expected to provide greater stability and flexibility in cross-border trade.

Bolat, expressing his optimism, emphasized that this comprehensive roadmap signifies a new era of economic collaboration between Turkey and Egypt. It sets the stage for deeper engagement, expanded market access, and strengthened partnerships that will ultimately benefit the business communities and citizens of both countries.

The strategic meeting between the Turkish and Egyptian Trade Ministers comes as a milestone in their diplomatic relations and showcases the mutual determination to foster economic growth, regional stability, and prosperity.

Both parties expressed their commitment to swiftly implement the agreed-upon measures, which are anticipated to create a conducive environment for sustainable economic development in the region.

The newfound synergy between Turkey and Egypt holds promising prospects for furthering their economic interests and strengthening the bonds of friendship between the two nations. (ILKHA)