Turkish - Egyptian free trade area

Egyptian Minister of Trade and Supply Ahmad Goweili said on Wednesday that Egypt and Turkey are discussing the establishment of a free trade zone between the two countries to boost trade and investment exchange and to eliminate obstacles hindering bilateral trade between the two countries.

In a speech he delivered on the inauguration of the Turkish-Egyptian Business Center in Cairo, Goweili added that Egypt views Turkey as a starting point to the markets of East Europe and the Commonwealth states, whereas Egypt can be a gate for the Turkish commodities to the Middle East and Africa.

The Turkish - Egyptian businessmen's council, in which 70 businessmen participated, as well as Goweili, said on Wednesday that the trade volume with Turkey has increased to reach $795 million during last year, and it will be increased to reach $1 billion during the coming year.

Shar Dakishel, Turkey's ambassador in Egypt, confirmed that Egypt and Turkey are partners in political and economic cooperation to achieve stability in the Middle East.