Egypt and Turkey plan to double trade transactions between the two countries over the next few years, announced President Mohamed Morsy.
The two countries hope to increase trade revenues to US$10 billion.
“We also agreed to establish a joint chamber of commerce,” Morsy said in a news conference following the end of the Islamic Summit that began on Wednesday. Fifty-six Islamic states participated in the conference.
Morsy and Turkish President Abdullah Gul further agreed to increase investment in both countries. Morsy said he hoped that Turkish investors would benefit from the incentives provided by the Egyptian market, and the export potential to markets with which Egypt has free trade agreements.
Turkish investments in Egypt amount to US$2 billion, and employ 60,000 Turkish laborers.
“I believe they [the laborers] would increase in number in a short period,” Gul said.
