U.S. trade mission visits Egypt to promote agribusiness

CAIRO – 2 April 2017: A U.S. trade mission headed by U.S. Foreign Agricultural Service Deputy Administrator Mark Slupek arrived in Cairo Sunday to promote agricultural trade between the two countries, the U.S. Embassy in Cairo said in a Sunday statement.

The mission, which includes over 40 U.S. business representatives, will meet senior Egyptian government and private sector officials. They will also have one-on-one meetings and site visits.

“The potential for market expansion in Egypt is great,” said Slupek. “This is the first time we’ve led a trade mission to North Africa, we’re hoping that we’re going to create some great business opportunities for the people who join us on this mission,” he added.

Trade volume between Cairo and Washington increased to $5 billion in 2016 compared with $4.7 billion in 2015, Egyptian Minister of Trade and Industry Tarek Kabil said in a press statement Saturday.

The trade balance deficit between the two countries declined from $3.34 billion in 2015 to $2.13 billion in 2016, a decrease of 40 percent.

Egypt is the U.S.’ largest business partner in Africa and the second largest in the Middle East, following the United Arab of Emirates, according to 2015 numbers, Kabil said, adding that U.S. direct investment in Egypt represents 33 percent of U.S. investments in whole of Africa as a total of 1,221 companies invest $23.7 billion in several fields.

Egyptian President Abdel Fatah al-Sisi, leading a high-level Egyptian delegation, arrived in Washington Saturday for talks with his American counterpart Donald Trump.