Aswat Masriya (Cairo)

10 May 2013

Egypt: Premier Discusses Trade Exchange With Turkish Counterpart

Egyptian Prime Minister Hisham Kandil and his Turkish counterpart Recep Tayyip Erdogan discussed on Friday ways to increase the size of trade exchange between the two countries.

Kandil arrived in Turkey this morning to attend the annual summit of the European Bank for Reconstruction and Development (EBRD).

The prime minister held talks on Friday evening with Erdogan at Dolmabahce Palace in Istanbul to discuss bilateral relations and ways to boost trade exchange and joint investments between Egypt and Turkey.

The discussions focused on Turkish support to Egypt during the current phase, the Middle East News Agency (MENA) reported.

Turkey has given Egypt an approximately $2 billion loan. The Central Bank of Egypt already received $1 billion of the loan. Discussions are underway to use the other $1 billion to fund projects in Egypt.

The trade exchange size between Egypt and Turkey is $5 billion.

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