Gamblat said the agreement reflects the state’s vision to strengthen local manufacturing by engaging the private sector and attracting foreign investment. He noted that Barox is among the world’s leading producers of hyperbaric oxygen therapy chambers and systems.

The protocol aims to transfer Barox’s expertise and localise the production of hyperbaric devices within Egypt’s military factories, leveraging advanced manufacturing lines and qualified capacities. Local production is intended to meet the needs of hospitals in Egypt and across Africa, in line with directives from the political leadership to deepen industrial localisation, modernise technology, and reduce the import bill.

Gamblat highlighted that hyperbaric devices are vital therapeutic tools used in treating a wide range of medical conditions, including carbon monoxide poisoning, chronic wounds, soft tissue infections, osteomyelitis, diabetic ulcers, sports injuries, acute oxygen deficiency, certain cancers, middle ear infections, skin diseases, and some autism spectrum disorder cases.

Barox expressed pride in partnering with the Ministry of Military Production, praising its industrial capabilities and role as a leading national institution supporting Egyptian industry.

Both sides affirmed that the cooperation will serve as a platform for exchanging scientific and industrial expertise, advancing sustainable development goals, and strengthening national human resources to keep pace with rapid technological change, particularly in innovation and digital transformation.

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During the meeting, the two sides reviewed the framework of the proposed project, which is expected to be developed over an area of 150,000 square metres and create around 1,000 job opportunities.

The factory will specialise in the production of glass tableware using advanced manufacturing technologies and modern production systems designed to improve energy and water efficiency while enhancing operational performance.

Hashem reaffirmed the ministry’s support for serious industrial investors seeking to establish manufacturing projects that contribute to technology transfer, job creation, and the development of Egypt’s industrial base.

“The ministry is committed to supporting manufacturers that establish real industries capable of transferring technology to the Egyptian market, creating jobs, and strengthening local industrial capabilities,” Hashem said.

He added that the ministry is ready to coordinate with all relevant authorities to remove potential obstacles facing the group and accelerate procedures related to the project’s implementation and operational launch.

The minister also reviewed the investment incentives currently offered by the Egyptian government to industrial investors, particularly export-related incentives aimed at supporting manufacturing activity and boosting industrial growth.

For her part, Esin Göral Argat, the Vice Chairperson of Gürok Group, said the group is keen to expand its investments in Egypt, describing the country as one of the company’s most strategic markets in the region and a key gateway for exports to the Middle East and Africa.

She noted that Gürok Group is currently the world’s fifth-largest producer of glass products and exports to nearly 140 countries worldwide.

The planned investment comes as Egypt intensifies efforts to attract foreign industrial investments and strengthen its position as a regional manufacturing and export hub, particularly in sectors with high export potential and strong value-added industries.

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The meetings took place on the sidelines of the OECD Critical Minerals Forum in Istanbul, where Badawi engaged with key stakeholders to explore partnership opportunities, exchange technical expertise, and position Egypt as a competitive destination for mining investment.

In discussions with executives from major Turkish mining firms, including OZ Minerals, the minister reviewed progress on previous engagements with the Egyptian Mineral Resources Authority and stressed the importance of building on existing cooperation frameworks. He highlighted Egypt’s recent regulatory reforms aimed at enhancing transparency and boosting investor confidence, supported by the country’s strategic location linking Africa, Europe, and Asia, as well as its advanced infrastructure and logistics network.

Badawi underscored the need to maximise the value of Egypt’s mineral resources by expanding into downstream industries and mineral processing, rather than focusing solely on extraction. He also emphasised the importance of developing human capital through training and knowledge transfer in line with international best practices.

In a separate meeting with officials from Tüprag Mining, a subsidiary of Canada’s Eldorado Gold, the minister pointed to Egypt’s strong potential in gold exploration, citing ongoing legislative and investment climate reforms. He highlighted the Sukari Gold Mine as one of the world’s top 15 gold mines, describing it as a successful model that could be replicated given Egypt’s significant geological potential.

The discussions also extended to the renewable energy sector, where Badawi met with representatives of Sanko Energy to outline Egypt’s plans to accelerate renewable energy deployment. He reaffirmed the government’s target to generate 42% of electricity from renewable sources by 2030, in coordination with the Ministry of Electricity and Renewable Energy, as part of broader efforts to reduce emissions and enhance energy efficiency across the oil and gas sector.

Separately, Badawi held bilateral talks with Alparslan Bayraktar, Türkiye’s Minister of Energy and Natural Resources, to deepen cooperation in mining and energy. The two sides discussed establishing joint working groups to explore opportunities in mineral exploration, regulatory frameworks, and geological survey technologies.

The ministers also reviewed prospects for collaboration in the Eastern Mediterranean gas sector, focusing on optimising the use of existing infrastructure in both countries to enhance energy security and regional integration. Discussions further covered energy transition strategies, hydrogen development, and low-carbon solutions, aligning with Egypt’s Vision 2030 and Türkiye’s energy roadmap.

Both sides emphasised the importance of strengthening private sector partnerships to implement joint projects in mining and energy, signalling growing momentum in Egypt-Türkiye economic relations.

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Daily News Egypt sat down with Steve Lutes, Vice President of the US Chamber of Commerce for Middle East Affairs, to explore the realities of US-Egypt economic ties and the challenges of turning Egypt’s potential into execution.

How do you assess Egypt’s performance in attracting investment? What is needed to improve?

Every government faces the challenge of becoming an attractive destination. Egypt already enjoys advantages that are difficult to replicate, most notably its geographic location. The key question is how to fully leverage that position.

Egypt also benefits from trade agreements with African markets. While I am not an economist, many experts anticipate strong growth across Africa in the coming years, which presents a significant opportunity. We often speak about Egypt as a gateway to Africa, but the priority now is to translate that concept into practical reality. This requires expanding dialogue frameworks beyond bilateral engagement to more multilateral cooperation.

What role can the US Chamber play in promoting economic support for Egypt?

The Chamber maintains ongoing engagement with US policymakers to highlight Egypt’s strategic economic importance, its role in regional stability, and its value as a trade and investment partner, particularly amid rising geopolitical tensions.

Through the US-Egypt Business Council, we consistently advocate for strengthening economic resilience, ensuring market stability, and supporting private sector-led growth. During periods of crisis, we also communicate the impact of economic shocks on supply chains, investor confidence, and reform trajectories. This helps foster a more stable political and economic environment conducive to financing and sustainable investment.

There’s a perception that Egypt’s private sector lacks equal opportunity. How do you see it?

There is always room for improvement; no system is perfect. From what I hear, there is clear government intent to expand privatisation and strengthen the private sector’s role. Naturally, businesses would like to see this process move faster.

Recent government changes suggest a greater willingness to accelerate reforms. This is creating more opportunities for private sector participation across a range of industries, whether through domestic firms or partnerships with international companies, including American ones.

With China, Türkiye, Germany, and Russia active in Egypt, where does the US stand?

It is important to recognise that different countries operate under different economic models. China and, to a large extent, Russia rely on state-led investment approaches. The United States operates very differently.

The US government does not direct companies where to invest. Decisions are made by private firms based on market conditions. If the investment environment is attractive, companies will come. If not, they will look elsewhere.

Can Egypt truly become a regional hub?

Absolutely. Egypt has the potential to serve not only as a gateway to Africa, but also to the Mediterranean and Europe. The Suez Canal remains a critical artery for global trade, whether for goods, energy, or even digital connectivity through submarine cables.

However, the real challenge is not promotion; it is execution.

What do you mean by execution?

Attracting American investment requires a more tailored approach than in state-led systems. In countries like China, agreements are often concluded at the government level, with companies following.

In the United States, each company must be engaged individually. Some are looking to expand into Africa, others have capital ready to deploy, while others require detailed feasibility studies. This makes the process more complex and demands targeted engagement and customised analysis.

Does this make US investment more difficult to secure?

It does make it more demanding, but also more sustainable. American companies tend to take a long-term view. They invest in local hiring, integrate into the market, and build enduring business operations.

What can we expect from the second Egyptian-American Economic Forum?

The objective is to frame the relationship strategically, rather than as a one-off event. There is a real opportunity to reinforce Egypt’s role as a gateway to Africa, including by involving African stakeholders and presenting concrete, investment-ready projects.

How can interest be converted into real investment?

American firms require precise, actionable information, not general messaging. When opportunities are clearly defined and well-structured, it becomes much easier to convert interest into investment.

Sector-focused discussions and direct engagement are essential to this process.

Why has Egypt-US cooperation in Africa been limited?

The Chamber continues to view Egypt as a key platform for US companies seeking to expand into Africa, particularly in sectors such as logistics, construction, energy, agriculture, and services.

However, progress depends on clearer project pipelines, the use of innovative financing tools such as blended finance, and stronger coordination between governments and development institutions.

What guarantees do US investors seek in tech and infrastructure?

Investors prioritise regulatory stability, transparency, effective dispute resolution mechanisms, and the availability of foreign currency. They also look for clear frameworks for public-private partnerships and predictable licensing timelines.

In the technology sector, data governance, intellectual property protection, and cybersecurity are especially critical.

Beyond energy, which sectors are most attractive?

Key growth areas include logistics, ICT, fintech, healthcare, pharmaceuticals, and export-oriented manufacturing.

What is the Chamber’s vision for the future of the Egypt-US economic partnership?

The relationship is evolving into a more strategic partnership built on resilience, innovation, and shared responsibility. Key areas of focus include energy security, regional stability, supply chain diversification, and human capital development.

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The call came during a four-way ministerial meeting held in Islamabad, attended by Egypt’s Foreign Minister Badr Abdelatty, Hakan Fidan, Faisal bin Farhan Al Saud, and Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar.

Egypt’s foreign ministry spokesperson, Tamim Khallaf, said the ministers reviewed rapid developments and the risks posed by ongoing military escalation, stressing the need for coordinated international efforts to ease tensions and prevent further deterioration.

The discussions also addressed the broader economic implications of the crisis, including its impact on international shipping, supply chains, food security, and energy markets, particularly amid rising oil prices.

Abdelatty underscored the importance of intensifying both regional and international efforts to contain the situation, emphasising that diplomacy remains the only viable path to de-escalation and conflict resolution.

The ministers agreed to maintain close coordination and ongoing consultations to support de-escalation efforts and prevent the conflict from widening.

On the sidelines of the meeting, Abdelatty held bilateral talks with Ishaq Dar to discuss strengthening ties between Egypt and Pakistan, particularly in trade and investment, against a backdrop of global supply chain disruptions and volatile energy markets.

He highlighted the importance of enhancing trade flows and linking logistical and industrial hubs, including potential cooperation between Egypt’s Suez Canal Economic Zone and Pakistan’s Gwadar Port.

Abdelatty also met separately with Faisal bin Farhan Al Saud, with both sides reaffirming strong strategic ties and stressing the importance of diplomatic solutions to avoid broader regional instability.

He reiterated Egypt’s full support for Saudi Arabia and Gulf states, condemning attacks targeting their security and stability.

On the Palestinian issue, both ministers stressed the need to advance efforts towards a two-state solution based on the 1967 borders and to halt Israeli violations in the West Bank.

They also discussed developments in Lebanon, emphasising support for state institutions, as well as the country’s sovereignty and stability.

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According to a statement from the Authority, El-Sobky reviewed a range of innovations showcased at the pavilion, including digital health solutions, advanced diagnostic systems, medical imaging technologies, and integrated healthcare platforms designed to enhance clinical decision-making and improve patient experience.

He said potential areas of cooperation with Türkiye include technology transfer and the localisation of medical industries in Egypt, as well as professional training and knowledge exchange across hospitals and healthcare centres to reinforce domestic healthcare capabilities.

El-Sobky added that collaboration would also extend to medical tourism, supporting Egypt’s “We Care for You in Egypt” initiative, which aims to attract international patients and further improve the quality and competitiveness of healthcare services.

The World Health Expo (WHX), formerly known as Arab Health, is one of the world’s largest healthcare platforms, bringing together policymakers, healthcare leaders, investors and major companies to showcase innovations in medical technology, artificial intelligence and digital health solutions.

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In a joint statement, the ministers said Israel’s actions seek to entrench settlements and impose a new legal and administrative reality in the West Bank, accelerating what they described as illegal annexation efforts and the displacement of Palestinians. They stressed that Israel holds no sovereignty over occupied Palestinian territory.

The ministers warned that expansionist policies in the West Bank risk fuelling further violence and undermining efforts to achieve peace and stability in the region.

They said the measures constitute violations of international law, threaten the viability of the two-state solution, and infringe on the Palestinian people’s right to establish an independent state along the June 4, 1967 borders, with East Jerusalem as its capital.

The statement cited United Nations Security Council Resolution 2334, as well as a 2024 advisory opinion by the International Court of Justice, which found Israel’s continued presence in occupied Palestinian territory to be unlawful.

The ministers called on the international community to uphold its legal and moral responsibilities by exerting pressure on Israel to halt escalation in the West Bank, reiterating that a two-state solution based on international legitimacy and the Arab Peace Initiative remains the only path to a just and lasting peace.

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El-Gawsaky said these advantages position Egypt as an ideal base for expanding business and production across key sectors, including industry, manufacturing, logistics, renewable energy and digital transformation.

He made the remarks during GAFI’s participation in the Egypt-Türkiye Business Forum, held under the theme “Economic Opportunities for a Strategic Partnership”. The forum brought together senior government officials and business leaders from both countries and was attended by around 400 Egyptian and Turkish companies, underscoring the depth of economic ties between Cairo and Ankara.

El-Gawsaky highlighted the strategic nature of Egyptian-Turkish relations, noting that the two countries’ geographic locations and economic capabilities create strong opportunities for expanding partnerships and exchanging expertise.

He added that Egypt is translating positive economic indicators into tangible outcomes by offering bankable investment opportunities and fostering a business-friendly environment. Digital transformation, he said, plays a central role in streamlining procedures and accelerating investment projects, ensuring high levels of transparency and efficiency in services provided to investors.

El-Gawsaky stressed that clarity and transparency form the foundation of Egypt’s cooperation with its partners, alongside a focus on sustainable development through collaboration rather than competition. This approach, he said, aims to generate genuine investment opportunities and support shared economic growth benefiting both the Egyptian and Turkish peoples.

He further noted that Egyptian-Turkish relations have played a key role in supporting Turkish investments in Egypt and enhancing industrial and technological integration between the two countries, contributing to job creation and sustainable development on both sides. He added that GAFI offers a package of incentives and fast-track measures, including the Golden Licence, while facilitating all necessary procedures to address challenges faced by Turkish investors.

El-Gawsaky also pointed to industrial and investment integration, combined with digital transformation, as a promising avenue for deepening cooperation between Egypt and Türkiye. He said Egypt is consolidating its position as a regional hub for investment and production, supported by strong political will, advanced infrastructure and a clear vision for sustainable economic growth.

For his part, Adel Lamie, board member of the Egyptian Businessmen’s Association and co-chair of the Egypt-Türkiye Business Council, said the forum represents a real opportunity to launch new economic partnerships and reflects the strength of bilateral economic relations. He stressed the importance of adopting a forward-looking, development-oriented vision based on integration to boost trade and investment flows, anticipating a broader presence of Turkish products in the Egyptian market and Egyptian products in Türkiye in the coming period.

The forum was held as part of Egypt’s efforts—led by the Ministry of Investment and Foreign Trade and GAFI—to support economic partnership with Türkiye. It provided a platform for direct dialogue between government institutions and the business community, aimed at fostering a stable and attractive investment climate and opening direct channels of communication to support mutual investments and shared interests.

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The figures were published on Wednesday in conjunction with President Abdel Fattah El-Sisi’s meeting with Turkish President Recep Tayyip Erdogan, as part of efforts to strengthen bilateral relations and activate high-level mechanisms of cooperation between the two countries, CAPMAS said.

Egyptian exports to Türkiye amounted to $3.2bn in 2025, compared with $3.4bn the previous year, while imports from Türkiye rose to $3.6bn from $3.2bn in 2024.

CAPMAS said Egypt’s main exports to Türkiye during the year included ready-made garments worth $389m, plastics and articles thereof valued at $317m, electrical machinery and equipment worth $301m, iron and steel valued at $290m, and fertilisers worth $255.4m.

On the import side, Egypt’s purchases from Türkiye were led by mineral fuels, oils and distillation products valued at $729.3m, followed by electrical machinery and equipment worth $602.2m, iron and steel and related products at $514.8m, cotton and cotton articles worth $259.9m, and cars and tractors valued at $155.6m.

Turkish investments in Egypt reached $175.1m in the 2024/2025 financial year, up from $165m in 2023/2024, while Egyptian investments in Türkiye rose to $74m from $54m over the same period, according to the agency.

Remittances from Egyptians working in Türkiye increased to $69.7m in 2024/2025, compared with $32.3m a year earlier, while remittances from Turks working in Egypt rose to $11.1m from $9.4m.

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Presidential spokesperson Mohamed El-Shennawy said Al-Sisi and Erdogan held a closed-door meeting ahead of the council session, during which they reviewed the trajectory of bilateral relations and explored ways to strengthen cooperation, particularly in trade and investment.

The talks also covered key regional issues of mutual concern, including developments in the Gaza Strip and the wider Middle East, as well as the situations in Sudan, Somalia and the Horn of Africa, the spokesman added.

Following the meeting, the two presidents signed the joint declaration issued by the council and witnessed the signing of several agreements and memoranda of understanding covering military cooperation, trade and investment, pharmaceuticals and medical supplies, social protection, youth and sports, plant quarantine and veterinary services.

Speaking at a joint press conference, Al-Sisi said he had held “constructive discussions” with Erdogan focusing on the future of bilateral cooperation. He noted that the visit follows celebrations last year marking the centenary of diplomatic relations between Egypt and Türkiye.

Al-Sisi said the visit provided an important opportunity to continue close consultations on bilateral, regional and international issues of common interest, stressing that Egypt and Türkiye share deep-rooted historical ties and longstanding bonds.

He said both countries have, over decades, upheld principles of peace and coexistence, contributing to the strengthening of bilateral relations and the establishment of the High-Level Strategic Cooperation Council. He added that discussions reviewed the positive development of cooperation since the council’s first meeting in Ankara in September 2024, as well as the outcomes of the inaugural meeting of the Joint Planning Group, chaired by the foreign ministers of both countries, held in November 2025.

Al-Sisi stressed the importance of continuing to deepen cooperation in the coming period, directing state institutions in both countries to intensify efforts to achieve this goal.

On economic relations, the president said bilateral trade has reached around $9bn, making Egypt Türkiye’s largest trade partner in Africa, while Türkiye ranks among the top destinations for Egyptian exports.

He said the two leaders agreed to raise trade exchange to $15bn and remove obstacles hindering the achievement of this target, while boosting investments and expanding broader economic cooperation. He expressed hope that the Egyptian-Turkish business forum held on the sidelines of the visit, with strong participation from business leaders and investors, would help advance these objectives.

Turning to regional crises, Al-Sisi said the rapid escalation of conflicts and unprecedented instability in the Middle East underscore that regional security and stability are a shared responsibility requiring closer coordination and deeper cooperation among countries in the region. He stressed that sustainable political solutions must address root causes, support national institutions as pillars of stability, and reject interference in states’ internal affairs.

On Gaza, Al-Sisi said he and Erdogan reviewed recent developments following efforts by Egypt, Türkiye, Qatar and the United States that led to a ceasefire agreement. He emphasised the importance of fully implementing the agreement in all its phases, ensuring the delivery of humanitarian aid, and preventing renewed escalation.

Al-Sisi reaffirmed Egypt’s and Türkiye’s rejection of any attempts to displace Palestinians from their land, stressing that the establishment of an independent Palestinian state along the June 4, 1967 borders, with East Jerusalem as its capital, remains the only path to lasting peace and stability. He also underlined the need to begin early recovery and reconstruction in Gaza and rejected any attempts to undermine the peace framework or violate the inalienable rights of the Palestinian people.

For his part, Erdogan said he was keen to build on the “brotherly ties” between Türkiye and Egypt to contribute to regional stability. “We are strengthening the legal foundation between Cairo and Ankara,” he said, noting that Egypt is Türkiye’s largest trade partner in Africa. He added that expanding bilateral relations has also yielded positive results for the tourism sector.

On the Palestinian issue, Erdogan said the humanitarian tragedy in Gaza continues despite the ceasefire, expressing Türkiye’s rejection of Israeli violations of the agreement. He thanked Egyptian authorities for facilitating the delivery of Turkish humanitarian aid to the Gaza Strip.

Erdogan also said Türkiye does not recognise the Israeli decision related to what is known as “Somaliland” and stressed that achieving stability and sustainable peace in Libya is a shared objective for both Egypt and Türkiye.

Al-Sisi said Sudan featured prominently in the talks, with both leaders agreeing on the need for a humanitarian truce leading to a ceasefire and the launch of an inclusive political process, while preserving Sudan’s national institutions. He said Egypt continues diplomatic efforts to safeguard Sudan’s unity, sovereignty and territorial integrity.

The two presidents also discussed Libya, where Al-Sisi reaffirmed Egypt’s support for the UN-led political process and a Libyan-led solution. He reiterated calls to end divisions within Libya’s executive authority, hold simultaneous presidential and parliamentary elections, and ensure the withdrawal of all foreign forces and mercenaries to preserve Libya’s sovereignty.

In closing, Al-Sisi said the talks reflected a strong convergence of views between Egypt and Türkiye on many regional and international issues, with both sides agreeing to continue consultation and coordination to deepen cooperation across all fields. He added that the two leaders look forward to holding the third meeting of the High-Level Strategic Cooperation Council in Ankara in 2028.

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