Egyptian-Turkish discussion on textile cooperation

Egypt's Minister Rasheed Mohamed Rasheed received yesterday a Turkish businessmen delegation and discussed with them means of boosting cooperation in textile industry and raising trade exchange.

The Minister asserted during the meeting that the two countries should exchange technical expertise, adding that Egypt's exports to Turkey hit $ 50 million from January to April 2004 and that its imports from Turkey during the same period hit $ 136 million.

Rasheed pointed out that Egypt's exports to Turkey went up from $ 91.7 million in 2001 to $ 193.5 million in 2003 against imports valued at $ 350 million.

Turkey has 12 companies in the industrial estates and one company in the free zone. Meanwhile the Egyptian investments in Turkey amounted to $5 million working in tourism, trade and organization of fairs.

The Turkish delegation indicated that the two countries' cooperation could cover textile industry in both exporting and importing.

The delegation expressed desire to get some facilities concerning the Egyptian cotton exports to Turkey.