Turkey eyeing $1 bn of Egyptian investments

Foreign trade official says Turkey is prepared to make heavy investments in Egypt in the coming years. Turkish companies are ready to pump over $1 billion into Egyptian investment projects in the next few years, according to Mahmoud Eissa, Egypt's Minister of Industry and Foreign Trade. Eissa's statement was reported by the state-run Al-Ahram newspaper following a Sunday meeting he held in Cairo with Turkey's Deputy Economy Minister, Ugul Ecevit, and the Turkish Ambassador to Egypt, Huseyin Avni. Egypt is striving to attract foreign investment after more than a year of upheaval in the wake of January 2011's revolution. Eissa also stressed the importance of a quick launch for the planned shipping trade route between the port of Alexandria and Mersin, on Turkey's Mediterranean coast. From: Ahram online