Cairo: Turkish President Recep Tayyip Erdogan departed for Cairo this morning, Wednesday, after concluding his official meetings in Saudi Arabia. Accompanying Erdogan on his visit to Egypt are Foreign Minister Hakan Fidan, Finance Minister Mehmet Simsek, Family and Social Services Minister Mahinur zdemir Aktas, Energy Minister Alparslan Bayraktar, Industry and Technology Minister Mehmet Fatih Kacir, Youth and Sports Minister Osman Askin Bak, Defense Minister Yasar Gler, Health Minister Kemal Memisoglu, the head of the Turkish Presidency’s Communications Directorate Burhanettin Duran, and a number of Turkish businessmen.

According to National Iraqi News Agency, this visit is expected to contribute to establishing new partnerships and opening up investment opportunities in various sectors between the two countries. It is hoped that the volume of trade exchange will increase from $8.8 billion in 2024 to $15 billion by 2028, as planned.

To achieve this goal, the relevant ministries in both countries are dedicating their efforts through numerous meetings aimed at developing practical plans and improving the investment environment to support this ambition.

Turkey and Egypt, both bordering the Mediterranean Sea, possess enormous potential for developing joint cooperation in the exploration and investment of hydrocarbons in offshore fields, having entered a new era of increased cooperation in the energy sector.

Turkish President Recep Tayyip Erdogan and Egyptian President Abdel Fattah al-Sisi signed a ‘Declaration of Intent’ during the ‘Sharm El-Sheikh Peace Summit’ held in Egypt in October 2015. US President Donald Trump also participated in the summit, where Turkey and Egypt made joint efforts to halt the Israeli aggression that devastated the Gaza Strip, achieve a permanent ceasefire, and create a conducive environment for the reconstruction of Gaza and the healing of the Palestinians’ wounds.

Furthermore, Turkish Foreign Minister Hakan Fidan and Egyptian General Intelligence Director Hassan Rashad participated in the ‘Gaza Executive Committee,’ which was established to support the implementation of the second phase of the ceasefire and to comprehensively support activities in the areas of governance and services.