Arab-Turkish economic relations thrive with $55 billion intra-trade

Union of Arab Chambers reports booming Arab-Turkish economic ties, highlighting $55 billion in trade and increasing investments

The Union of Arab Chambers’ secretary-general Khaled Hanafi announced that Arab-Turkish economic relations are advancing across all levels, with intra-trade reaching a substantial $55 billion.

Hanafi highlighted the annual growth of Turkish exports by approximately 10%, along with the notable increase in both direct and indirect Arab investments within Türkiye in recent years.

This discussion took place during the fifth joint meeting of the Arab and Turkish Chambers, held in Egypt and attended by numerous commerce chamber heads and industry leaders from Arab nations and Türkiye.

Emphasizing the significance of such gatherings, the Chamber’s President underscored their role in fostering robust ties between the Arab world and Türkiye.

Notably, the Arab-Turkish chamber has significantly boosted trade, economic and investment exchanges since its inception.

In his remarks, Egypt’s Minister of Trade and Industry Ahmed Samir underlined the importance of the business communities in Arab countries and Türkiye leveraging their political relations.

This collaboration aims to bolster economic cooperation through initiatives such as joint manufacturing, fostering intra-trade, supporting transportation and logistics and ensuring food security.

Source: Newsroom

#haber#