Egyptian Investment Minister Attends COMCEC Meetings in Turkey

Photo : Egypt Media Office

Hassan El-Khatib, the Egyptian Minister of Investment and Foreign Trade, has departed Cairo to participate in the 40th session of the Council of Trade Ministers of the Standing Committee for Commercial and Economic Cooperation (COMCEC) under the Organization of Islamic Cooperation (OIC) in Turkey. This session is an important platform for member countries to discuss economic and trade cooperation, and El-Khatib’s attendance underscores Egypt’s commitment to fostering stronger ties within the OIC and with Turkey.

During his visit, Minister El-Khatib will engage in a series of in-depth discussions with senior officials, business leaders, and representatives from various Turkish business associations and companies. A key focus of these talks will be to enhance trade and investment relations between Egypt and Turkey. The Egyptian delegation aims to promote Egypt as a hub for investment and to showcase the wealth of opportunities available to Turkish investors.

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The minister's discussions will also cover the latest developments in Egypt’s economic landscape, particularly the government’s financial and monetary policies, which are designed to facilitate investments and streamline the processes involved in exporting and importing goods. These initiatives are part of Egypt’s broader efforts to attract foreign investments, with a specific emphasis on increasing Turkish investments in the Egyptian market.

In addition to the key meetings of the COMCEC session, Minister El-Khatib is scheduled to hold bilateral talks with Omar Polat, the Turkish Minister of Trade. These talks will aim to explore avenues for improving economic cooperation between the two countries. There will also be discussions with other trade ministers from participating nations, focusing on strengthening bilateral trade and exploring new markets for economic collaboration.

A significant portion of the visit will involve a meeting with the chairman and members of the Turkish side of the joint business council. This council is a key platform for fostering closer collaboration between the private sectors of both countries, and El-Khatib’s meeting with its representatives will seek to identify practical solutions to expand business opportunities and partnerships between Egypt and Turkey.

Moreover, Minister El-Khatib is set to attend several sessions organized by the Egyptian Commercial Office in Turkey. These gatherings will include meetings with leaders of Turkish business federations and major industrial companies, with a view to strengthening Egypt's commercial relations with Turkey and exploring new potential areas for cooperation, particularly in sectors where Turkey has expertise, such as manufacturing, trade, and technology.

The visit reflects Egypt’s strategic approach to deepening economic and trade relations with key regional partners, and highlights the importance of international collaboration in enhancing economic growth and development. Through these discussions, Egypt aims to position itself as an attractive destination for foreign investments, paving the way for a stronger economic partnership with Turkey and other OIC member countries.

Nov. 6, 2024 12:02 p.m. 403

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