Egyptian President Abdel Fattah El-Sisi received his Turkish counterpart Recep Tayyip Erdogan in Cairo on Wednesday, where they co-chaired the second meeting of the High-Level Strategic Cooperation Council, signing a joint statement and several memoranda of understanding in defence, trade, investment, and other fields. The General Authority for Investment and Free Zones (GAFI) participated in the Egypt-Türkiye Business Forum to boost economic ties. The visit aims to elevate bilateral trade to $15 billion.
In a move reflecting deepening bilateral relations, Presidents Abdel Fattah El-Sisi and Recep Tayyip Erdogan held a closed-door meeting in Cairo on February 4, 2026, reviewing the trajectory of ties and ways to enhance cooperation, particularly in trade and investment. Discussions covered key regional issues, including developments in Gaza and the broader Middle East, as well as situations in Sudan, Somalia, the Horn of Africa, and Libya.
The meeting saw the signing of a joint statement and memoranda of understanding on military cooperation, trade and investment, pharmaceuticals and medical supplies, social protection, youth and sports, plant quarantine, and veterinary services. At a joint press conference, El-Sisi said he held “constructive discussions” focused on the future of bilateral cooperation, noting the visit follows last year’s centenary celebrations of diplomatic relations. He stated bilateral trade has reached around $9 billion, making Egypt Türkiye’s largest trade partner in Africa, and both agreed to raise it to $15 billion.
According to data from the Central Agency for Public Mobilisation and Statistics (CAPMAS), trade exchange between Egypt and Türkiye reached $6.8 billion in 2025, up from $6.6 billion in 2024. Egyptian exports included ready-made garments ($389 million) and plastics ($317 million), while imports were led by mineral fuels ($729.3 million) and electrical machinery ($602.2 million). Turkish investments in Egypt rose to $175.1 million in the 2024/2025 fiscal year.
On the sidelines of the visit, the Egypt-Türkiye Business Forum was held under the theme “Economic Opportunities for a Strategic Partnership,” attended by around 400 Egyptian and Turkish companies. Mohamed El-Gawsaky, CEO of GAFI, said Egypt offers a strong investment environment backed by economic reforms, facilitating access to European, African, and Middle Eastern markets. Adel Lamie, a board member of the Egyptian Businessmen’s Association, highlighted the forum’s importance in launching new partnerships and boosting trade flows.
Erdogan expressed keenness to build on the “brotherly ties” between Türkiye and Egypt to contribute to regional stability, stressing rejection of any attempts to displace Palestinians and support for an independent Palestinian state. The presidents also discussed Sudan, agreeing on the need for a humanitarian truce leading to ceasefire, and Libya, calling for a UN-led, Libyan-owned political process.