Egypt, Turkey discuss expanding cooperation in energy, mining

Egyptian Minister of Petroleum and Mineral Resources Karim Badawi and his Turkish counterpart Alparslan Bayraktar met on the sidelines of Baku Energy Week to explore avenues for enhanced cooperation in the energy and mining sectors. This meeting followed earlier discussions in Istanbul in April.

Both ministers stressed the importance of elevating bilateral cooperation and achieving a significant shift in their energy and mining relationship. They aim to foster greater collaboration between government institutions, specialized companies, and private sector entities from both nations. A key focus was exploring prospects for increased Turkish investment in Egypt's mining industry, particularly following interest from Turkish company OZ Mining in studying gold exploration opportunities in Egypt's Eastern Desert.

The discussions also encompassed collaboration on technical expertise, sharing best practices, and adopting modern technologies. These efforts are intended to support development plans, attract investments, and boost the added value of natural resources. Furthermore, the ministers underscored the significance of strengthening regional cooperation in the energy sector within the eastern Mediterranean. They plan to leverage the strategic advantages, infrastructure, and geographic positions of both Egypt and Turkey to bolster energy security, promote regional integration, and serve mutual interests.