Egypt to attend industrial conf. in Turkey next week

Ten representatives from the Egyptian government and the Federation of Egyptian Industries (FEI) will take part in an industrial conference in Turkey next week, the president of the Turkish-Egyptian Businessmen Association (TUMIAD) said.

Organized by TUMIAD, the five-day conference, themed "Let's Manufacture Together", will start in the central province of Konya on Nov. 26.

"The conference aims at luring investments into Egypt by making partnerships with Egyptian businessmen and manufacturers," Atilla Ataseven told a press conference in Cairo on Monday.

He said the chairman of Egypt's Industrial Development Authority (IDA), Ahmed Abdel Razek, and 88 Egyptian companies will participate in the industrial conference.

Ataseven said Turkish companies were planning to invest $1 billion in Egypt in the coming period, pointing out that Turkish firm Pasabahce has started to channel $100 million to establish a glass factory in Egypt.

"We are seeking to launch halal tourism in Egypt like the case in Turkey," he said, adding that a conference will be held in Cairo for this end, but without giving a date for the event.

Ataseven said a feasibility study was being conducted to establish a Turkish industrial zone in Egypt, adding that the area was likely to be established east of Cairo.

Trade exchange between Turkey and Egypt amounted to $4.17 billion in 2016, according to figures by the Egyptian authorities.

In January, Egyptian capital Cairo hosted the Egyptian-Turkish Business Forum, which was attended by Rifat Hisarciklioglu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB).