February 17, 2011
The events unfolding in Egypt are closely watched in Turkey for the possible repercussions of the political turmoil for the entire region and Turkey. Firstly, there are many Turkish companies doing business in Egypt. The Turkish?Egypt Business Council estimates Turkish companies’ investments in Egypt at USD 1.5bn. Trade volume between the two countries is around USD 3bn, according to CEIC data. We should underline that the crisis in Egypt may also hit directly Turkey through higher oil prices. Following the anti?government protests in Egypt, the price of Brent oil passed USD 101 a barrel for the first time since October 2008. It is feared that a closure of the Suez Channel may lead to the disruption of oil supplies and consequently to higher oil prices.
Table of Contents:
Possible impacts of the crisis on Turkish economy
Some major Turkish companies and their investments in Egypt
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