The Israeli newspaper Maariv has observed Egypt and Turkey’s efforts to strengthen economic and investment cooperation, coinciding with Ankara’s attempts to include Cairo in a new regional defense alliance.
The newspaper said that Turkey is seeking to have Egypt join the defense agreement it signed with Saudi Arabia and Pakistan, which stipulates that any attack on a member state is considered an attack on all parties to the agreement, considering that the Turkish offer puts Cairo at the heart of a regional alliance that is taking shape.
Maariv noted that Cairo is dealing cautiously with the military commitment, as Egyptian Foreign Minister Badr Abdel-Aty confirmed that his country is coordinating with the signatory countries and has been participating in the dialogue since its beginning, but any defense commitments require careful study before a final decision is made.
According to the newspaper, Egypt, on the other hand, is trying to use the rapprochement with Ankara to enhance economic interests, by attracting Turkish investments and expanding trade, taking advantage of its geographical location and the Suez Canal as a major gateway to the markets of Africa and the Middle East.
She added that the two countries aim to raise the volume of trade exchange to $15 billion, as determined by Egyptian President Abdel Fattah al-Sisi and his Turkish counterpart Recep Tayyip Erdogan, while Cairo put forward a package of measures to facilitate Turkish investments, including the “fast track” mechanism to reduce licensing procedures, and the formation of a joint working group to address bureaucratic obstacles.
Maariv reported that one of the most prominent proposals is to establish an integrated Turkish industrial zone within the Suez Canal Economic Zone, with the aim of attracting companies operating in the automotive, aluminum, heavy machinery, chemicals and textile sectors.
The talks also addressed, according to the report, the possibility of renewing the "Ro-Ro" shipping line between Egyptian and Turkish ports, which would allow for faster transport of goods, in addition to encouraging Turkish companies to invest in the mining and mineral exploration sector in Egypt.
The newspaper noted the signing of several documents during the recent moves, including a decision regarding rules of origin within the framework of the free trade agreement, and a protocol regarding Egypt’s accession to a memorandum of understanding in the field of logistics connectivity, which enhances its position as a trade gateway to African markets.
On the security front, Maariv reported that Turkish Foreign Minister Hakan Fidan’s visit to El Alamein included meetings with Egyptian officials, including a meeting with the head of the Egyptian General Intelligence Service, Hassan Rashad, while Fidan described the level of intelligence and diplomatic cooperation between the two countries as “excellent.”
The newspaper quoted Fidan as saying that Egypt and Turkey are two large countries that bear a historical and geographical responsibility in the region, and that strengthening cooperation between them serves the interests of the two peoples and contributes to supporting peace, stability and prosperity in the Middle East.
According to the reading provided by "Maariv," these developments reflect Cairo's attempt to achieve the greatest possible economic gains from the rapprochement with Ankara, without rushing into military commitments, at a time when Turkey is seeking to expand its regional influence through new security and economic partnerships.
