Khalid Khalil said that a committee with 6 members from the two sides was formed to activate the agreement, and a regular meeting is to be annually held in Egypt and Turkey alternately. An invitation was sent to the members of TEMSAD Association to visit Egypt and be acquainted with the development of business atmosphere and facilitations made by the government for encouraging the investment. Khalil pointed out that Turkey has a growing interest in establishing industrial and feeding projects in Egypt. He emphasized the importance of this trend to attract more Turkish investments and enhance relations between the two sides. “?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office The Chairman of the Egyptian Young Businessmen Association, Khaled El-Miqaty, on the margin of signing the agreement, stated that the Egyptian-Turkish relationships witnessed a great breakthrough during the past two years after signing the free trade treaty between the two countries, which contributed greatly to the increase in trade that exceeded one billion dollar, besides the increase in the common investment size. In this regard, he referred to the Turkish investment size in Egypt that reached 550 million dollars, that is, the outcome of about 158 Turkish companies, hoping to reach one billion dollar within the forthcoming period.He pointed out that the mutual visits among both Egyptian and Turkish investors and the governmental efforts, contributed largely to removing the obstacles and increasing the competitive ability of industry in the two countries and the expansion of the Turkish projects in Egypt. According to him, the size of the trade exchange between the two countries will increase, ranging from 2 to 5 billion dollars, during the forthcoming three years due to the continuous growth in Turkish investors in Egypt, especially in the sectors of yarn, textiles, and ready-made clothes and engineering sectors. In addition, it is expected that the Turkish companies working in Egypt will become larger to be more than 100 companies in the current year.He said that it has been agreed upon operating an internal airline to serve investment and tourism in Alexandria and an airline from Cairo and Alexandria to serve businessmen and tourism.Source: Al-Alam Al-Youm Newspaper”
Date:5/28/2008
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