CAIRO - 18 December 2024: Prime Minister Mostafa Madbouly held a meeting today to review and advance efforts aimed at strengthening economic relations between Egypt and the United States. He emphasized the importance of consulting with American companies operating in Egypt, addressing their challenges, and gathering their proposals to enhance cooperation.
Madbouly highlighted the government’s dedication to fostering Egypt-US relations, aligning with directives from President Abdel Fattah El-Sisi. He proposed organizing an investment forum to explore opportunities in key sectors and attract more US investments. He instructed the Ministry of Investment and Foreign Trade to expedite the forum’s preparation and resolve issues faced by American companies in Egypt.
The Prime Minister also stressed the necessity of collaborating with the American Chamber of Commerce to arrange a joint investment conference, underscoring Egypt’s commitment to reinforcing economic ties with the United States.
The meeting was attended by prominent officials, including Finance Minister Ahmed Kouchouk, Foreign Minister Badr Abdel Aty, Deputy Minister of Finance Yasser Sobhy, and Ambassador Samih Abou El-Enein.
Foreign Minister Badr Abdel Aty highlighted the strategic partnership between Egypt and the US, citing ongoing collaborations in renewable energy, digital transformation, and the automotive industry. He noted progress in aligning Egypt’s vehicle import standards with US specifications to facilitate trade and investment.
The Foreign Minister also outlined efforts to implement joint development and technical cooperation programs, following Egypt’s engagement in high-level UN meetings in New York. These initiatives aim to enhance Egypt’s investment climate and address potential challenges faced by investors.
Finance Minister Ahmed Kouchouk reinforced the significance of engaging with American companies to resolve operational obstacles and explore expansion opportunities. He highlighted the positive reception of Egypt’s economic reforms within the US business community and suggested inviting leading American banks to discuss potential collaborations.
The meeting concluded with directives from Madbouly to coordinate closely with the American Chamber of Commerce, organize a joint investment conference, and take actionable steps to strengthen economic cooperation between the two nations.
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