Egypt, Turkey developing electricity and renewable energy cooperation

Ayman Khalil
Thursday, 15 September 2011

Global Arab Network - The Egyptian and Turkish ministries of energy signed a cooperation protocol.

The protocol comes in consolidation of the two countries' special friendly relationship and cooperation, Egyptian Electricity and Energy Minister Hassan Younis said after the signing ceremony.

It targets developing cooperation and increasing the exchange of know-how in the fields of electricity and renewable energy especially in such areas and operation methods, system maintenance, the making of technical and environmental feasibility studies, power network designing and database programming, he said.

The protocol also covers joint work to encourage investments and public-private partnerships in carrying out electricity and renewable energy projects in either of the two countries, he said

Deep, strategic relationship

Addressing the forum, Minister of Industry and Foreign Trade Dr. Mahmoud Eissa said that the relationship between Egypt and Turkey is deep, strategic and considered a successful model of economic cooperation based on common interests.

the Egyptian government is fully aware of the difficulties facing men of industry and businessmen and the importance of their role in achieving prosperity and welfare in the coming stage.

He said the government and the Ministry of Industry are keen to eliminate the difficulties facing businessmen and in providing the atmosphere needed for attracting more investments and deepening cooperation between Egyptian and Turkish businessmen.

Coordination efforts and continuous consultation between Egypt and Turkey reflected positively on the volume of trade exchange as exceeded $ 3 billion in 2010 compared to 3.2 billion dollars in 2008, Eissa added.

He pointed out that the Egyptian-Turkish cooperation in the field of investment has witnessed a remarkable growth. Trade exchange diversified and increased to include textiles, automobiles, foodstuffs, construction, energy, and appliances.

Global Arab Network

Source: Global Arab Network.
Link: http://www.english.globalarabnetwork.com/2011091512097/Energy/egypt-turkey-developing-electricity-and-renewable-energy-cooperation.html.