Engineer Osama Guneidy, who heads the Energy Committee at the Egyptian-Lebanese Businessmen Association and is a member of the Egyptian-Turkish Business Council, highlighted that recent statements by the Turkish President about developing joint projects with Egypt in the energy and transport sectors truly show how strategically important these areas are. He sees them as key drivers for economic integration between the two countries.
Guneidy pointed out that Egypt boasts a strong energy infrastructure, covering natural gas, electricity, and new and renewable energy projects. This opens up fantastic opportunities for direct production and investment partnerships with Turkey, which will clearly help boost the volume of trade between the two nations.
He explained that this cooperation could take several forms. Most importantly, it could involve setting up projects for energy generation, transmission, and storage, as well as jointly manufacturing components for power plants and grid equipment. Plus, there are opportunities for operations, maintenance, and related technology services – all of which are goods and services that contribute to bilateral trade.
Guneidy added that integrating the energy sector helps lower industrial production and transport costs. This, in turn, makes exports more competitive and supports the expansion of joint industrial projects aimed at exporting to regional markets. He also emphasized that building an integrated economic model in energy and transport will create a solid foundation for reaching higher trade exchange rates in the coming years.
He continued by saying that cooperation between Egyptian and Turkish companies in the energy field isn't just limited to Egypt. It also opens doors for broader regional collaboration, which will further strengthen economic integration and create sustainable joint investment opportunities.
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