DEIK: "Turky's long-term investments in Egypt will continue"

Turkish companies' investments in Egypt will continue in the long term, said Foreign Economic Relations Board (DEIK) head Rona Yircali yesterday. Yircali was speaking at a press conference in Istanbul on the release of the Emerging Markets Global Players 2010 report, prepared jointly by Kadir Has University, Vale Columbia Center (VCC), KPMG and DEIK. Asked whether the political tension in Egypt will affect the investment decisions of Turkish firms operating there, Yircali stressed that Egypt is "economically important for Turkey." "There are [in Egypt] several industrial zones belonging to Turkish businessmen, along with many infrastructure investments from Turkish companies. We are carefully following developments in the country," he said. Foreign Trade Minister Zafer Caglayan also said yesterday that his ministry has set up a crisis desk for Turkish companies operating in Egypt to monitor political developments there. Caglayan is expected to meet with representatives of Turkish firms active in Egypt today.