Turkey to increase investment in Egypt

Turkey will increase investment in Egypt more than threefold, from $1.5 billion to $5 billion, Egyptian Prime Minister Essam Sharaf said at a meeting with his Turkish counterpart Recep Tayyip Erdogan in Cairo on Tuesday.
Trade turnover between the two states is to rise from $3 billion to $5 billion.

Cairo is hosting an Egyptian-Turkish meeting today, with businessmen invited. Turkey is interested in tourism, communications, banking and energy in Egypt.

The Turkish prime minister is on a visit to Egypt, Libya and Tunisia. The visit started from Egypt to improve cooperation in the economy, politics, culture, inter-party interaction and religion. Turkey is developing ties with Egypt against the background of tensions with Israel.