Egypt offers Russia an alternative to Turkish imports
This Monday, the Egyptian Minister of Trade and Industry, Mr Tarek Kabil, stated that his country is…This Monday, the Egyptian Minister of Trade and Industry, Mr Tarek Kabil, stated that his country is ready to meet Russia's needs and become an alternative to Turkish imports after the tension that marred the relationship between Moscow and Ankara following the downing of a Russian warplane by Turkey a few days ago.
Mr Kabil said that an offer has been presented to his Russian counterpart, Mr Denis Manturov, to help cover Russia's needs. 66% of Moscow's imports from Turkey were fruits and vegetables (followed by clothing and leather), and he stressed that Egypt has the potential to be able to supply these products.
The Egyptian Minister will submit a list containing the most important imports of Russia from Turkey as preparation for a visit from Russian importers, who will be in Egypt to learn about Egyptian-producing companies and to meet with Egyptian exporters to discuss ways of cooperation between the two sides.
Every year, Egypt makes vegetable shipments worth about US$ 180 million, while Turkish exports of the same products amount to US$ 385 million.
The value of Egyptian fruit exports wordlwide generates US$ 132 million dollars per year, while Turkish shipments are worth about $ 623 million, according to 2014 statistics.
Turkey shipped a number of important products to Egypt, the volume of which has increased this year, despite strained relations between Cairo and Ankara against the backdrop of the military coup against the elected President Mohamed Morsi in July 2013.
According to the President of the Turkish Exporters Council, Mr Mohammed Buyuk Akshay, "there is a steady increase in Turkey's exports to Egypt, which reached 36 percent in the first half of this year.