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Egypt and Turkey aim to raise trade exchange to $15 billion over next few years

Egyptian President Abdel Fattah al-Sisi and his Turkish counterpart Recep Tayyip Erdoğan witnessed the signing ceremony of a number of agreements and memorandum of understanding between the two countries, as they seek to raise trade exchange to $15 billion within the next few years.

The two presidents signed a joint declaration on restructuring high-level strategic cooperation council meetings between Egypt and Turkey.

During a joint press conference with Erdogan at the Ettehadiya Palace, Sisi stated: “I would like to start by welcoming His Excellency Turkish President Recep Tayyip Erdoğan to his first visit to Egypt in over 10 years. We are opening a new page between our two countries to enrich our bilateral relations and put them on the right track.”

“I affirm our pride and appreciation for our historical relationship with Turkey and the common civilizational and cultural heritage between us,” he added.

“Egypt is currently Turkey’s first trading partner in Africa, and Turkey is one of the most important destinations for Egyptian exports. We will seek together to raise trade exchange to $15 billion over the next few years and enhance joint investments and open new areas of cooperation,” he said.

Sisi further stated that he agreed with President Erdoğan on the need for an immediate ceasefire in the Gaza Strip and to achieve calm in the West Bank so that the peace process can be resumed as soon as possible – leading to the declaration of a sovereign Palestinian state with East Jerusalem as its capital.

Both leaders also stressed the need to strengthen joint consultations regarding the Libyan crisis, in order to help hold presidential and legislative elections and unify the country’s military institutions.

Sisi said, “We appreciate that our success in achieving security and political stability in Libya will be a model to follow, as the countries of the region are the most capable of understanding its complexities and the ways to resolve the existing differences there.”

During the discussions, the two presidents also assured their common interest in cooperating for Africa and working to foster its development efforts to attain stability and prosperity.

Sisi concluded his speech by saying: “I look forward to answering the Turkish President’s invitation to visit Turkey next April, to continue working to improve the relations of the two countries in various fields in a way that is commensurate with their history and common cultural heritage.”

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