During his visit, Mr. Kursad Tuzmen said that “the Turkish economy will develop itself by a model in which products are shared with the neighbouring countries. Certain products will be manufactured in neighbouring countries and others in Turkey. We will bring together the products manufactured in neighbouring countries and in Turkey and export these products to third parties..
Within this framework, the number of investments by Turkish entrepreneurs in Egypt increased. This had a positive impact on Turkey’s exports..
After a free trade agreement was signed, Turkish exports to Egypt went up. Turkish exports to Egypt increased by 50 percent in 2008 when compared to the previous year. The policy we pursue is based on the win-win model. Both Egypt and Turkey win in this model. All machinery used in Turkish factories in Egypt comes from Turkey itself,” Tuzmen said. Turkish businessmen investing in Egypt sell goods to the United States and 12 Arabic countries without having to pay customs fees..
The Kucukcalik Textile factory cost 44 million to erect and employs 800 people. In 2008, the factory sold goods worth 48 million USD. The factory sells goods to many companies, including IKEA. The ETF Textile factory employs 450 people. Among its clients are Reebok, Adidas and Nike..