UPDATE - Türkiye, Egypt reinforce cooperation in various sectors, eyeing $15B trade goal

UPDATES WITH MORE REMARKS FROM TURKISH PRESIDENT

By Esra Tekin, Muhammed Yasin Gungor and Seda Sevencan

ISTANBUL (AA) - Ankara is progressing resolutely toward its goal of increasing trade volume with Cairo to $15 billion within the next five years, the Turkish president said on Wednesday.

Speaking at a joint news conference with his visiting Egyptian counterpart Abdel Fattah al-Sisi in the capital Ankara, Recep Tayyip Erdogan said Türkiye and Egypt reaffirmed their determination to advance cooperation in every area, including industry, defense, health, environment and energy.

"Trade and economic cooperation form the strongest dimension of our partnership," Erdogan said. "Over the past 10 years, we have continued to be among Egypt's top five trading partners. We are resolutely advancing toward our goal of increasing our trade volume to $15 billion within the next five years."

The president also highlighted the significant contributions of Turkish businesspeople to the Egyptian economy, with investments nearing $3 billion. He urged Turkish entrepreneurs to further expand their investments and to invite Egyptian investors to Türkiye.

"We will enhance our multifaceted relations in a win-win manner," he added.

Recalling that next year, both countries will celebrate the 100th anniversary of the establishment of their diplomatic relations, Erdogan said: "We are two ancient countries that have been cradles to civilizations shaping human history. We continuously strengthen the deep and multifaceted relations between our countries through our joint efforts."

Erdogan said Türkiye and Egypt have a common stance on the Palestinian issue, adding that their contributions to regional peace and stability are "vital."

Earlier, al-Sisi arrived on an official visit to Türkiye, his first since taking office, at the invitation of Erdogan, who visited Cairo in February.