Turkey’s exports to Egypt rose by 3 percent in 2014
CAIRO - Anadolu AgencyTurkey’s exports to Egypt increased by 3.1 percent in 2014, according to the Turkish-Egyptian Business Association.
“Turkey’s exports to Egypt last year amounted to some $3.398 billion, increasing from $3.2 billion in 2013,” Atilla Ataseven, the head of the association, told Anadolu Agency.
However, Ataseven also stated that Egyptian exports to Turkey decreased by 13.8 percent during 2014, down from $1.727 billion to $1.489 billion.
Relations between Cairo and Ankara have been strained since the 2013 military ouster of Mohamed Morsi, Egypt’s first freely elected president.
In the wake of the coup, Ankara, a former ally of the Morsi administration, and Cairo downgraded diplomatic relations.
Ataseven said Turkish investors in Egypt were unfazed by political differences between the two countries.
“Egyptian officials are keen on positive cooperation with Turkish investors,” he said.
According to official Egyptian figures, 418 Turkish companies currently operate in Egypt in a number of fields, particularly textiles and clothing.