The meeting took place at the headquarters of the Turkish Foreign Economic Relations Board (DEIK), co-organised with Egypt's Commercial Office in Istanbul, on the sidelines of El-Khatib's visit to participate in the 41st session of the Standing Committee for Economic and Commercial Cooperation of the Organisation of Islamic Cooperation (COMCEC), which was opened by Turkish President Recep Tayyip Erdogan.
Minister El-Khatib met with DEIK Chairman Nail Olpak and
representatives from approximately 35 Turkish companies operating in various
industrial sectors.
During the roundtable, Minister El-Khatib reviewed current
economic developments in Egypt and its appeal as an investment destination. He
also addressed concerns and inquiries raised by the participating Turkish
firms.
The companies present included existing investors in Egypt,
such as:
KCG for Home Furnishings: This company exports most of its
production from Egypt to IKEA. The Minister recently inaugurated its second
factory in Egypt.
Eroğlu Holding: One of the largest Turkish investors in
Egypt, operating four factories in Ismailia and Damietta. The company recently
expanded with new investments in Qantara West, where the Egyptian Prime
Minister inaugurated its new factory.
BEKO for Home Appliances: The first phase of its investment
in Egypt reached $100 million. The company inaugurated its first factory in
Egypt in September 2024 and is currently exporting to 40 countries from its
Egyptian base just one year after opening, illustrating the success of Turkish
investments in the country.
Other notable participants included:
Bony Socks and Alpine: Major Turkish sock manufacturers that
have invested an estimated $200 million in Egypt.
Bonna: Turkey's largest tableware porcelain company,
currently establishing its first factory in Egypt.
Polaris Industrial Development: This company develops three
industrial zones in Egypt and has new investments planned for three more.
A number of other Turkish companies attending the event are
studying plans to relocate part of their investments to Egypt. Minister El-Khatib
was keen to answer all their inquiries and urged them to enhance their
investments in the country.
The DEIK is one of Turkey's largest business associations, encompassing 150 joint business councils between Turkey and a wide array of global partners, with a mandate to develop Turkey's international trade and economic relations.