Ix. General Assembly Of The Turkish Egyptian Business Association
TUMIAD – CAIRO 19 MAY 2012
IX. GENERAL ASSEMBLY OF THE TURKISH EGYPTIAN BUSINESS ASSOCIATION
-Turkish - Egyptian Business Association held its 9th annual General Assembly in Cairo on 19 May 2012.
- The General Assembly listened to the report of the Chairman, thanked President Zeki Ekinci and the Executive Board for their untiring efforts in representing Turkish - Egyptian business community’s image and interests throughout the historic transition taking place in the Arab Republic of Egypt since Tahrir Revolution in 2011.
-The General Assembly welcomed that Turkish Egyptian bilateral trade increased by approximately 30% in 2011 exceeding,for the first time in history, Four billion Dollars.
-The members were particularly satisfied that Egypt’s exports to Turkey increased at a greater ratio, by more than 50%, during the same period, which indicated that there has been nett liquidity transfers from Turkish economy to Egyptian economy during the past year, at a time when Egypt needed critical resources to overcome the bottlenecks.
-General Assembly also noted that, with few exceptions due to administrative hazards and market fluctuations , overwhelming majority of Turkish investors remained in Egypt, maintained production, and Turkish factories were currently employing over 50.000 Egyptian workers contributing to stabilization and revival of Egyptian economy through export oriented output.
- The members expressed their confidence and determination to continue supporting Egyptian economy through its transition and engage counterparts in constructive dialogue and increase their investments when conditions permit.
-General Assembly renewed its appreciation and full confidence in the current TUMIAD Management and wished them continued success in their endeavors throughout the remaining part of their tenure until its next session in 2013.
- At the conclusion of the proceedings it was unanimously agreed that TUMIAD:
Underlined its conviction that enhanced Turkish-Egyptian cooperation will promote peace, stability and development in the Eastern Mediterranean, Middle East and Africa;
Emphasized that effective cooperation between Turkey and Egypt will build confidence and convey positive messages to regional and international corporate sectors, banks and investors towards expanding their constructive engagement and cooperation;
Decided to convey to the Government and people of Egypt , its continuing trust and readiness for multifaceted cooperation in all possible fields; accordingly stands ready to serve as a facilitater and work in harmony under the guidance of the Office of the Prime Minister of Egypt, Ministry of Trade and Industry, other related Ministries, GAFI, IDA, Provincial Governorates and Municipalities, Federation of Chambers, Federation of Industries, Egyptian Business Associations, Business Development Agencies and other affiliated institutions;
Reiterated its solidarity with and wishes of success to all authorities and people in the remaining phases of Egypt’s democratic transition;
Expressed its full commitment to realization of the economic objectives of expanding bilateral trade to 5 billion Dollars and volume of mutual investments also to 5 billion Dollars as declared by the Prime Ministers of Egypt and Turkey in September 2011;
Welcomed the establishment and activation in April 2012 of the RoRo Transportation between Turkish port of Mersin and Egyptian Ports of Alexandria, Port Said and Suez which will increase commercial traffic between Northern and Southern shores of the Mediterranean and bring the continents closer;
Declared that it stands ready to step up its engagement and activities in the fields of trade, industry, tourism, engineering and other services, i.e. transportation, civil aviation, energy, infrastructure, auto industries, machinery and spare parts, agriculture and food as may be needed by their government and private sector counterparts towards speedy recovery, and sustainable development of Egyptian economy; and
Renewed its willingness to explore additional fields and norms of coopertion i.e. joint ventures in third countries in the Middle East, Africa and EuroAsia expanding current businesses and building new bridges of partnership by mutually organizing business and investment delegations, joint workshops and conferences in Turkey and Egypt. Towards realization of those goals, TUMIAD announced its readiness to work with the Federation of Egyptian Chambers (FEDCOC), Turkish Union of Chambers (TOBB) , EBA, DEIK and other related institutions towards the establishment of Turkish Egyptian Joint Chamber of Commerce and Industry.
Sunday - Thursday
09:00 - 17:00
Consulate Section: 09:-12:00 (Applicaton hand over) / 14:30-16:30 (Applicaton take over)
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