The Chamber of Commerce and Industry in Bursa, Turkey, has revealed its intentions to establish an industrial zone in Egypt, following discussions held during a meeting on Tuesday, February 13, 2024. Minister of Trade and Industry, Ahmed Samir, engaged with representatives from the Chamber of Commerce and Industry in Bursa, along with the Vice President of the Federation of Turkish Chambers of Commerce and Industry.
The proposed industrial zone in Egypt aims to replicate the success of its counterpart in Bursa, Turkey, specializing in textiles, automobiles, aluminum, machinery, equipment, and advanced technologies.
Minister Samir outlined his vision for the region to emerge as a major export hub from Egypt to key markets such as Europe, the United States of America, the Arabian Gulf, and North Africa. Leveraging Egypt’s free trade agreements with these markets, Turkish products are poised to swiftly access them. The establishment of this industrial zone is anticipated to attract Turkish investors keen on tapping into the Egyptian market.
Currently, the Chamber is evaluating options and studying the feasibility of establishing the industrial zone, with careful consideration given to the needs of member companies. Geographical selection will prioritize cost optimization and maximize benefits for participating companies.
Trade statistics provided by the Minister indicate that the trade exchange between Egypt and Turkey totaled approximately $5.875 billion in 2023. Egyptian commodity exports to Turkey experienced a notable surge, reaching $2.934 billion compared to around $2.288 billion in 2022, marking a 28 percent increase.
