Turkey signs $350m arms deal with Egypt

Turkish arms supplier Mechanical and Chemical Industry Corporation (MKE) has signed a $350 million export agreement with the Egyptian Ministry of Defence. The deal, which highlights a significant rapprochement between the two nations, was signed during President Erdogan's visit to Cairo. Under the agreement, MKE will sell its Tolga Short-Range Air Defence System to Egypt and establish production lines for various types of ammunition within the country. A joint venture will also be created to manage the new facilities and enhance export potential in the wider region.