A delegation of Turkish businessmen has met with Egyptian Prime Minister Mostafa Madbouly for the first time in 10 years to discuss expanding operations in Egypt.
The visit marks a further warming of relations between the two countries.
The delegation included representatives from 14 companies working in industrial development, textiles, ready-made garments, sportswear, medical products and electronics, the Cabinet said on Wednesday.
The meeting, which took place in the New Administrative Capital, started with Mr Madbouly offering his condolences to the victims of the earthquake that hit Turkey and Syria earlier this month and left tens of thousands dead.
“The message of the meeting is important and clear because it is a step towards affirming the importance of trade and economic relations between Egypt and Turkey,” Mr Madbouly said. Further co-operation with Turkish companies could also increase Egypt’s exports to key markets abroad such as the UK, the US and Europe, he added.
Each of the Turkish business leaders delivered a brief address to the room on how they planned to expand their operations in Egypt.
The meeting was the product of several lower-level gatherings between Egypt’s Minister of Trade and Industry Ahmed Samir and Turkish representatives, the Cabinet said.
Foreign direct investment by Turkish companies in Egypt amounts to about $2 billion.
The Turkish delegation said it hoped to increase its investment by another $500 million this year.
Several of the business leaders, particularly those with established companies in Egypt, spoke highly of their experiences in the country, the Cabinet said.
Turkish businessmen hoping to launch new endeavours raised concerns about the country’s investment climate, which Mr Madbouly said he would personally handle to give them the necessary assurances that Egypt's market is safe for investors.
Transparency and the state’s intervention in the private sector have long deterred foreign investors from expanding their operations in Egypt. The issue was raised repeatedly during the country’s latest negotiations with the International Monetary Fund for the approval of a $3 million loan.
Turkey and Egypt severed diplomatic ties in 2013 following harsh Turkish criticism of the ousting of Egyptian president Mohamed Morsi, who was backed by the Muslim Brotherhood, which has strong ties with Turkey’s ruling AKP party.
However, despite the deterioration of the political relationship, trade between the two countries continued to increase at a significant rate, almost tripling between 2007, when a free-trade agreement signed in 2005 came into effect, and 2020, from $4.42 billion to $11.14 billion.
“Egypt and Turkey enjoy historic relations, and despite any political differences that may have occurred during previous periods,” Mr Madbouly said on Wednesday.
“We have been keen in Egypt to maintain the relationship between our people, and to keep our co-operation in the economic and trade fields close.”
The relationship between the countries has improved significantly since 2013.
Egypt President Abdel Fattah El Sisi met with Turkish counterpart Recep Tayyip Erdogan at the World Cup opening ceremony in Doha in November. A photo of the pair shaking hands was widely shared on social media.
The pair issued statements after their meeting that the handshake was the first step towards normalising ties and that more would follow.
However, both sides are still at odds over key regional issues. Turkey's singing of an oil and gas deal with Libya's Tripoli-based government drew ire from Egypt and Greece, which support the rival Tobruk-based administration.
Cairo has also criticised Ankara for exploratory drilling in disputed waters near Cyprus.
Scores in brief:
- New Medical Centre 129-5 in 17 overs bt Zayed Cricket Academy 125-6 in 20 overs.
- William Hare Abu Dhabi Gymkhana 188-8 in 20 overs bt One Stop Tourism 184-8 in 20 overs
- Alubond Tigers 138-7 in 20 overs bt United Bank Limited 132-7 in 20 overs
- Multiplex 142-6 in 17 overs bt Xconcepts Automobili 140 all out in 20 overs
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
MATCH INFO
Newcastle United 3
Gayle (23'), Perez (59', 63')
Chelsea 0
RESULTS
Bantamweight: Jalal Al Daaja (JOR) beat Hamza Bougamza (MAR)
Catchweight 67kg: Mohamed El Mesbahi (MAR) beat Fouad Mesdari (ALG)
Lightweight: Abdullah Mohammed Ali (UAE) beat Abdelhak Amhidra (MAR)
Catchweight 73kg: Mosatafa Ibrahim Radi (PAL) beat Yazid Chouchane (ALG)
Middleweight: Yousri Belgaroui (TUN) beat Badreddine Diani (MAR)
Catchweight 78KG: Rashed Dawood (UAE) beat Adnan Bushashy (ALG)
Middleweight: Sallah-Eddine Dekhissi (MAR) beat Abdel Enam (EGY)
Catchweight 65kg: Yanis Ghemmouri (ALG) beat Rachid Hazoume (MAR)
Lightweight: Mohammed Yahya (UAE) beat Azouz Anwar (EGY)
Catchweight 79kg: Souhil Tahiri (ALG) beat Omar Hussein (PAL)
Middleweight: Tarek Suleiman (SYR) beat Laid Zerhouni (ALG)
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Company%20profile
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FORSPOKEN
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Company%20of%20Heroes%203
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Suicide%20Squad%3A%20Kill%20the%20Justice%20League
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Final%20Fantasy%20XVI
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Street%20Fighter%206
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Diablo%20IV
%3Cp%3EDeveloper%3A%20Blizzard%20Entertainment%0D%3Cbr%3EPublisher%3A%20Blizzard%20Entertainment%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%0D%3Cbr%3ERelease%20date%3A%20June%3C%2Fp%3E%0A
Baldur's%20Gate%203
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The%20Legend%20of%20Zelda%3A%20Tears%20of%20The%20Kingdom
%3Cp%3EDeveloper%3A%20Nintendo%0D%3Cbr%3EPublisher%3A%20Nintendo%0D%3Cbr%3EConsole%3A%20Nintendo%20Switch%0D%3Cbr%3ERelease%20date%3A%20September%3C%2Fp%3E%0A
Marvel's%20Spider-Man%202
%3Cp%3EDeveloper%3A%20Insomniac%20Games%0D%3Cbr%3EPublisher%3A%20PlayStation%0D%3Cbr%3EConsole%3A%20PS5%0D%3Cbr%3ERelease%20date%3A%20Fall%3C%2Fp%3E%0A
Assassin's%20Creed%20Mirage
%3Cp%3EDeveloper%3A%20Ubisoft%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsole%3A%20PC%2C%20PS5%2C%20XSX%2C%20Amazon%20Luna%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
Starfield
%3Cp%3EDeveloper%3A%20Bethesda%20Game%20Studios%0D%3Cbr%3EPublisher%3A%20Bethesda%20Softworks%0D%3Cbr%3EConsole%3A%20PC%2C%20Xbox%0D%3Cbr%3ERelease%20date%3A%202023%3C%2Fp%3E%0A
MATCH INFO
West Ham United 2 (Antonio 73', Ogbonna 90 5')
Tottenham Hotspur 3 (Son 36', Moura 42', Kane 49')
The%20specs
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MATCH INFO
Tottenham Hotspur 1
Kane (50')
Newcastle United 0
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
Meydan racecard:
6.30pm: Al Maktoum Challenge Round 2 (PA) Group 1 | US$75,000 (Dirt) | 2,200 metres
7.05pm: UAE 1000 Guineas (TB) Listed | $250,000 (D) | 1,600m
7.40pm: Meydan Classic Trial (TB) Conditions | $100,000 (Turf) | 1,400m
8.15pm: Al Shindagha Sprint (TB) Group 3 | $200,000 (D) | 1,200m
8.50pm: Handicap (TB) | $175,000 (D) | 1,600m
9.25pm: Handicap (TB) | $175,000 (T) | 2,000m
10pm: Handicap (TB) | $135,000 (T) | 1,600m
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
If you go
Flying
Despite the extreme distance, flying to Fairbanks is relatively simple, requiring just one transfer in Seattle, which can be reached directly from Dubai with Emirates for Dh6,800 return.
Touring
Gondwana Ecotours’ seven-day Polar Bear Adventure starts in Fairbanks in central Alaska before visiting Kaktovik and Utqiarvik on the North Slope. Polar bear viewing is highly likely in Kaktovik, with up to five two-hour boat tours included. Prices start from Dh11,500 per person, with all local flights, meals and accommodation included; gondwanaecotours.com
Results:
First Test: New Zealand 30 British & Irish Lions 15
Second Test: New Zealand 21 British & Irish Lions 24
Third Test: New Zealand 15 British & Irish Lions 15
Brief scores:
Newcastle United 1
Perez 23'
Wolverhampton Rovers 2
Jota 17', Doherty 90' 4
Red cards: Yedlin 57'
Man of the Match: Diogo Jota (Wolves)
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Ukraine%20exports
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COMPANY%20PROFILE
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KILLING OF QASSEM SULEIMANI
