Within the activities of H.E. President Abdel Fattah El-Sisi’s Historic Visit to the Turkish capital, Ankara H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, meets with the Turkish Ministers of Transport, Infrastructure, Finance and Treasury

Al-Mashat: The historic declaration between the two countries opens up great prospects for joint cooperation in the fields of economic development, investment and trade exchange.

 Integration between Egypt and Turkey as two countries with influence in the region to strengthen positions in international institutions and advance efforts to develop the global financial structure.

 Egypt has taken effective steps to develop the business climate and attract domestic and foreign investments.

 Discussing aspects of joint cooperation between The Sovereign Fund of Egypt (TSFE) and Turkey Wealth Fund (TWF).

 

During the historic visit of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, to the Turkish capital Ankara, H.E.Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Mr. Abdulkadir Uraloğlu, Turkish Minister of Transport and Infrastructure, with the participation of Lt. Gen. Eng. Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, and also held a meeting with Mr. Mehmet Şimşek, Turkish Minister of Treasury and Finance, in the presence of Mr. Alpaslan Çakar, The Chairman of the Board of the Turkish Banks Association and CEO of Ziraat Bank, the largest national banking institution in Turkey.

 

The Minister of Planning, Economic Development and International Cooperation discussed various aspects of cooperation with the Turkish side, in light of the joint declaration to reconstitute the High-Level Strategic Cooperation Council between Turkey and Egypt, which represents a new and effective beginning for relations, especially with the centennial of the establishment of diplomatic relations between the two countries. They also discussed the aspects of joint cooperation between The Sovereign Fund of Egypt and The Turkey Sovereign Wealth Fund.

 

Al-Mashat stressed the great prospects for economic, trade and investment relations between Egypt and Turkey, in light of their regional status and pivotal role in the international economy, pointing out the Egyptian government’s aspiration to translate the memoranda of understanding and the provisions of the joint declaration to reconstitute the High-Level Strategic Cooperation Council between the two countries into a tangible reality and action on the ground in a way that reflects on the efforts of economic and social development, joint investments and inter-trade, and achieves a developmental impact on the citizens of the two countries.

 

The Minister of Planning, Economic Development and International Cooperation addressed the government's efforts to develop the investment climate and prepare the environment to attract foreign investments and encourage domestic investments, expressing her aspiration to increase focused investments in Egypt, especially in the fields of industry and infrastructure, pointing to the opportunities available for Turkish investments, especially in the Suez Canal Economic Zone. Opportunities for cooperation in the fields of renewable energy, infrastructure and other areas of common interest were also discussed.

 

Al-Mashat also emphasized the importance of what was stipulated in the joint declaration signed by the leaders of the two countries, especially with regard to coordination within the framework of international organizations with the aim of combating climate change, enhancing cooperation to support multilateral efforts, and coordinating mutually beneficial positions in international and regional organizations.

 

She highlighted the efforts undertaken by the Ministry of Planning, Economic Development and International Cooperation to enhance the economic relations of the Arab Republic of Egypt with regional and international organizations, multilateral development banks, and United Nations (UN) programs and agencies to support the state's development efforts, as well as coordination with international alliances in the field of climate action to support green transformation efforts and establish the principles of just financing.

 

She explained that in light of the challenges the world is witnessing which impacts progress towards the SDGs, coordination with different countries in light of their membership in international institutions, to consolidate visions and plans, enhances efforts to advance development cooperation efforts.

 

The Minister of Planning, Development and International Cooperation also stressed the importance of integration between Egypt and Turkey and coordination of common positions in international institutions, as they are two countries with influence in the Middle East region, in order to advance global development efforts, support international efforts aimed at developing the global financial structure, and enhance triangular cooperation, especially with Egypt joining the BRICS group and the New Development Bank.