17 - 23 May 2001
Issue No.534
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Al-Ahram Weekly On-line 17 - 23 May 2001 Issue No.534 |
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Talking trade
Trade between Turkey and Egypt has sharply declined in the past year due to Turkey's economic malaise and the recession the Egyptian economy has recently been witnessing. Egyptian exports to Turkey fell by 10.9 per cent in 2000, compared to the previous year, while Turkish exports to Egypt slipped even further by 42.6 per cent within the same period.
Moreover, Egypt had filed anti-dumping claims against the entry of cheap Turkish iron and steel imports into the Egyptian market. Head of the Federation of Chambers of Commerce Khaled Abu Ismail said the claims could be resolved provided the balance of trade between the two countries is improved to avoid a heavy tilt in Turkey's favour. Abu Ismail said it was "impossible for Turkish exports to Egypt to remain at the current level of triple the Egyptian exports to Turkey."
Abu Ismail was speaking to a Turkish Chamber of Industry delegation headed by Natil Akan, which was in Cairo last week to look into ways of boosting trade between the two countries. Akan said the delegation was interested in setting up joint-venture export projects inside Egypt that will benefit both countries.
The two sides discussed Egypt's concerns over the iron and steel dumping charges, which prompted the Egyptian government to impose a 62 per cent customs tariff on these products in 1999. Abu Ismail said these issues are currently under consideration by the two sides, with a view to resolving them. However, he added that the currently imposed ban on the import of Turkish textiles and garments will continue "as a protective measure for the local textiles industry."
The 140-strong business delegation representing the Turkish tourism, textiles, automotive, chemicals, electronics and food industries sectors also met with the Egyptian Businessmen's Association.
At the event, the Turkish Embassy's commercial section announced several web sites that can be accessed by businessmen interested in trade or ventures with Turkish partners, among which are www.foriegntrade.gov.tr, www.turktrade.com.tr and www.tr-ito.com.
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