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IntelliNews - The Impact of the Turmoil in Egypt on the Turkish Economy and Companies
Emerging Markets Direct, Feb 2011, Pages: 4
The events unfolding in Egypt are being closely watched in Turkey for any possible repercussions of the political turmoil for the entire region and for 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.
It should be underlined that the crisis in Egypt may also hit Turkey directly 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.
The IntelliNews Special Reports cover a wide range of topics, related to important current developments in the fields of economy, industry, corporate and politics. They include thorough analytical overview and statistics.
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