Turkey Plans $300 Million Investment in Egypt's Textile Sector
Deal News | Jan 29, 2025 | Zawya
In the upcoming year 2025, Turkish investors plan to inject more than $300 million into the Egyptian economy, primarily focusing on the textile sector. Salih Mutlu Şen, Turkey's Ambassador to Cairo, disclosed this information during an event organized by the Turkish Exporters Assembly (TiM). He also highlighted expectations for the bilateral trade volume, excluding LNG, to reach $10 billion by 2025 and projected a further increase to $15 billion over the following five years. In 2024, bilateral trade hit $8.8 billion, marking an increase from the previous year. The ambassador highlighted the role of the free trade agreement in boosting investments and strengthening economic ties between Turkey and Egypt.
Sectors
- Textile Industry
- International Trade and Investment
Geography
- Egypt – Egypt is the recipient of the investment that Turkish companies plan to make in the textile sector.
- Turkey – Turkey is the source of the companies intending to invest $300 million in Egypt by 2025.
Industry
- Textile Industry – The article mentions that Turkish companies plan to invest predominantly in the textile sector in Egypt, indicating this industry's importance in the discussed investments.
- International Trade and Investment – The projected trade volume and investment plans indicate significant activities in international trade, with focus on enhancing bilateral relations between Turkey and Egypt.
Financials
- $300 million – The amount Turkish companies plan to invest in Egypt's textile sector by 2025.
- $10 billion – The expected bilateral trade volume between Turkey and Egypt by the end of 2025, excluding LNG.
- $15 billion – The targeted bilateral trade volume between Turkey and Egypt over the next five years.
- $8.8 billion – The bilateral trade volume between Egypt and Turkey for the year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Turkish Companies | Investor | Companies | Businesses from Turkey planning to invest in Egypt's textile sector. |
| Salih Mutlu Şen | Ambassador | People | Turkey's Ambassador to Cairo, who provided details about the investment plans and trade expectations. |
| Türkiye Exporters Assembly (TiM) | Facilitator | Companies | An organization involved in organizing the event where investment announcements were made. |