World Bulletin/News Desk
Egyptian Minister of Planning and International Cooperation Ashraf al-Arabi on Wednesday said that political tensions between Cairo and Ankara had led to the suspension of an agreement for a $1-billion Turkish credit line to the Egyptian government.
"Talks between Egypt and Turkey regarding activation of the credit line are currently on hold," al-Arabi told Anadolu Agency.
Last November, Turkish Prime Minister Recep Tayyip Erdogan and Egypt's then-President Mohamed Morsi –later ousted by the Egyptian military on July 3 – signed the credit agreement in Cairo.
Turkey continues to describe Morsi's ouster as a "military coup," a position that has angered Egypt's army-backed interim authorities.
"The political differences between the two countries have surely affected the activation of the agreement, but neither side has gone so far as to cancel it," al-Arabi said.
Some Egyptian business associations have called for the abrogation of a 2005 free trade agreement between the two countries to protest perceived Turkish "intervention" in Egypt's domestic affairs.Last Mod: 18 Eylül 2013, 14:25