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After years of negotiations, Egypt and Turkey have finally signed a free trade agreement that aims to boost economic ties between the two nations. The agreement, which was signed in December 2020, will eliminate tariffs on goods traded between the two countries and remove other trade barriers to facilitate smoother cross-border trade.

The free trade agreement between Egypt and Turkey covers a wide range of products, including agricultural goods, textiles, and machinery. Under the deal, businesses in both countries will be able to export and import goods more easily and at a lower cost. This is expected to lead to an increase in bilateral trade and investment, which will benefit both economies.

For Egypt, the free trade agreement with Turkey comes at a critical time, as the country is looking to revive its economy after the COVID-19 pandemic. The agreement is expected to provide a much-needed boost to the country`s exports, which have been hit hard by the pandemic. It also opens up new opportunities for Egyptian businesses to tap into the Turkish market, which has a population of over 80 million people and a growing economy.

Turkey, on the other hand, will benefit from increased access to the Egyptian market, which is one of the largest in the region. The agreement will give Turkish businesses a competitive advantage over other countries that do not have a free trade agreement with Egypt, as they will be able to sell their products at a lower price than their competitors.

In addition to boosting trade and investment, the free trade agreement between Egypt and Turkey is also expected to deepen political and cultural ties between the two nations. The two countries have a long history of cooperation, and the agreement is expected to strengthen this relationship even further.

While the free trade agreement between Egypt and Turkey has been welcomed by many, some have raised concerns about the impact it may have on other countries in the region. For example, some worry that the agreement could lead to a flood of Turkish goods into Egypt, which could harm local producers. Others argue that it could lead to a shift in trade flows from other countries to Turkey, which could hurt their economies.

Overall, the free trade agreement between Egypt and Turkey is a significant step forward for both countries. It is expected to bring economic benefits and deepen ties between the two nations. As the agreement comes into effect, it will be interesting to see how it impacts trade and investment in the region and whether it serves as a model for other countries to follow.