Al Mashat and El Wazir meet Turkish counterparts to discuss joint co-op in various fields

Cairo – September 5, 2024: Egypt’s Minister of International Cooperation Rania Al-Mashat and Lt. Gen. Eng. Kamel El-Wazir, Egypt's Deputy Prime Minister for Industrial Development, met with Turkish Transport and Infrastructure Minister Abdulkadir Uraloğlu met today to discuss joint cooperation in the fields of economic development, investment and trade exchange.

Al-Mashat emphasized the significant potential for economic, trade, and investment relations between the two countries, given their pivotal roles in the regional and global economy.

She expressed Egypt’s commitment to implementing the recently signed memoranda of understanding and joint declarations into concrete actions, which aim to foster economic and social development, enhance joint investments, and boost bilateral trade, ultimately benefiting both countries’ citizens.

The session also included discussions with Mehmet Şimşek, Turkey’s Minister of Treasury and Finance. Alpaslan Çakar, Chairman of the Turkish Banks Association and CEO of Ziraat Bank, Turkey’s largest banking institution, was present as well.

The meetings focused on various aspects of cooperation in light of the recently reconstituted High-Level Strategic Cooperation Council between Turkey and Egypt, which marks a new chapter in the diplomatic relationship, coinciding with the centennial of their diplomatic ties.

Al-Mashat highlighted the Egyptian government’s ongoing efforts to improve the investment climate and attract foreign and domestic investments, pointing to opportunities for Turkish investments in Egypt’s industrial and infrastructure sectors, notably within the Suez Canal Economic Zone.

Discussions also covered potential collaborations in renewable energy and other areas of mutual interest.

She underscored the importance of the joint declaration’s emphasis on international cooperation to combat climate change, highlighting the need for coordinated efforts within international organizations to support multilateral climate initiatives and advocate for just financing principles.

Al-Mashat also addressed the challenges impacting global progress towards the Sustainable Development Goals (SDGs) and emphasized the importance of international coordination to overcome these hurdles.

She stressed the need for Egypt and Turkey to align their positions in international institutions to advance global development efforts and enhance triangular cooperation, particularly as Egypt joins the BRICS group and the New Development Bank.