04:26 GMT +330 May 2017
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    Turkish Prime Minister Tayyip Erdogan

    Ankara to triple economic investment in Egypt

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    Turkish Prime Minister Tayyip Erdogan said the country would over triple its investment in the Egyptian economy from $1.5 billion to $5 billion.

    Turkish Prime Minister Tayyip Erdogan said the country would over triple its investment in the Egyptian economy from $1.5 billion to $5 billion.

    The announcement came during a meeting in Cairo with Egyptian Prime Minister Essam Sharaf.

    During Ergodan's two-day visit to Egypt, the two countries signed a number of economic and trade deals that would increase trade turnover from $3 billion to $5 billion.

    On Wednesday, a Turkish-Egyptian business council will be attended by ministers and a large number of businessmen from both countries. Ankara has said it is mostly interested in investment opportunities in tourism, communication, energy and the banking spheres.

    Erdogan on Tuesday began his "Arab Spring" trip to the countries of Egypt, Libya and Tunisia where he plans to support the creation of democracy as well as discuss strategic partnership in the Middle East.

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