By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Turkey and Egypt upgrade diplomatic ties as relations thaw
News

Turkey and Egypt upgrade diplomatic ties as relations thaw

News Room
Last updated: 2023/07/04 at 8:14 AM
By News Room
Share
4 Min Read
SHARE

Receive free Middle Eastern politics & society updates

We’ll send you a myFT Daily Digest email rounding up the latest Middle Eastern politics & society news every morning.

Turkey and Egypt have appointed ambassadors to each other’s capitals for the first time in a decade as the countries repair relations that were shattered when a democratically elected Islamist government in Cairo was ousted in a 2013 military coup.

The decision, which came after an agreement between Turkish president Recep Tayyip Erdoğan and his Egyptian counterpart Abdel Fattah al-Sisi, is the latest indication that former regional foes are seeking to mend ties as they focus on their domestic economies.

“This step aims at the re-normalisation of relations between the two countries and reflects the mutual will to develop bilateral relations in line with the interests of the Turkish and Egyptian peoples,” a joint statement between Turkey and Egypt said.

Ankara and Cairo broke off diplomatic relations in 2013 after Erdoğan condemned the popularly backed coup led by Sisi that ousted Mohamed Morsi, an Islamist and the country’s first democratically elected president.

Erdoğan, whose rise was also rooted in Islamist politics, strongly backed Morsi’s Muslim Brotherhood. In the intervening years, Turkey had served as a haven for members of the group as Sisi’s regime launched a sweeping crackdown against the Islamist movement and its supporters.

The two countries re-established consultations between foreign ministries in 2021, and late last year Erdoğan and Sisi shook hands at the football World Cup in Qatar. Turkey has made several concessions to Egypt, including a move to push television stations, including those set up by opponents of the Sisi regime, to tone down their criticism of the Egyptian government.

Egypt and Turkey have retained strong trade ties despite the diplomatic rift: Egypt was among the top-20 markets for Turkish exports last year, according to the Turkish Statistical Institute.

The reconciliation with Egypt, which has been a gradual process over the past two years, is also part of a wider healing of rifts in the region. Support for the Muslim Brotherhood has been a main cause of strained relations between Egypt, Bahrain, the UAE and Saudi Arabia on one side and Qatar and Turkey on the other. Saudi Arabia, the UAE, Egypt and Bahrain cut off diplomatic and transport links with Qatar after imposing a regional embargo on the small gas producer in 2017. The ban was lifted in 2021, which led to a thawing of tensions in the region.

Ankara has also sought to improve its relations with several other countries in the region in recent years as Erdoğan has looked to the Gulf for funding at a time when western investors have abandoned the country’s markets and Turkey has fallen deeper into economic malaise.

Erdoğan is to travel to the UAE later this month, Turkish finance minister Mehmet Şimşek said on Monday. Şimşek and vice-president Cevdet Yılmaz, who are leading an effort to quell Turkey’s years-long economic crisis, visited Abu Dhabi in June, with Turkey hoping to secure fresh investment from the oil-rich state. Abu Dhabi had already promised in 2021 to invest $10bn in Turkey after UAE president Sheikh Mohammed bin Zayed al-Nahyan met with Erdoğan in Ankara.

Turkey also last year sought to ease tensions with Saudi Arabia, which deteriorated sharply after Saudi agents murdered journalist Jamal Khashoggi in the kingdom’s consulate in Istanbul in 2018. Ankara also restored embassy-level relations with Israel in 2022 as part of its push towards rapprochement with other regional powers.

Read the full article here

News Room July 4, 2023 July 4, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
America’s bid for energy supremacy is being forged in war

Additional work by Jana TauschinskiOil and gas tanker location and destination data…

LIVE: Market Coverage Apr. 2, 2026 Stocks fall, oil surges after Trumps says war with Iran not over

Watch full video on YouTube

Why Walmart’s Massive Private Label Rebrand Is Happening Now

Watch full video on YouTube

Crude Oil Trades Above $95 Ahead Of Weekend Risk – WTI Technical Analysis

MarketPulse is an award-winning industry analysis and news site service created by…

The Edutainment Formula That Made POV Beauty Go Viral

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

America’s bid for energy supremacy is being forged in war

By News Room
News

Crude Oil Trades Above $95 Ahead Of Weekend Risk – WTI Technical Analysis

By News Room
News

PLS Group Limited (PILBF) Q3 2026 Sales/Trading Call Transcript

By News Room
News

Politics And The Markets 04/23/26

By News Room
News

Capital One Financial Corporation (COF) Q1 2026 Earnings Call Transcript

By News Room
News

ValuEngine Weekly Market Summary And Commentary

By News Room
News

Politics And The Markets 04/20/26

By News Room
News

Politics And The Markets 04/19/26

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?