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A Turkish socks manufacturer is planning to build a factory in Egypt at a cost of around $70 million to market its products in Egypt and Europe.
Nearly 3,000 sewing machines will be deployed in the 75,000-squre-metre plant in the first phase, to be increased to 4,000 units in the project’s second phase.
Bonny Socks company presented project details to Egypt’s minister of investment and foreign trade Hassan Al-Khatib at a meeting in Cairo this week, the Egyptian cabinet’s information office said on its website.
Exports are initially projected at nearly $80 million but they are expected to rise after the factory is expanded at a later stage, the office said in a statement without mentioning the project location.
Egypt is a major commercial partner with Turkey, with two-way trade standing at around $9 billion in 2024 and $4 billion in the first half of 2025. The exchange this year included around $2 billion worth of Egyptian exports, Al-Khatib said.
Turkey increased its imports of garments and textile from Egypt by nearly 26 percent in the first half of this year against the same period of last year, according to Egypt’s Textile Export Council (TEC).
The value of such exports swelled to around $577 million in the first half of 2025 from $538 million in the first half of 2024, TEC said.
Turkey maintained its position as the largest market for Egyptian clothing exports, with a value of around $236 million in the first half of this year, accounting for around 41 percent of Egypt’s total clothing exports, it added.
(Writing by N Saeed; Editing by Anoop Menon)
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