Creating new perspectives since 2009

Egyptian economists in Washington to advance commercial cooperation

February 4, 2014 at 10:45 am

An Egyptian governmental delegation of economic experts began an official visit to Washington on February 4 to explore bilateral economic cooperation with their American counterparts.

The delegation, which is led by the first deputy in the Ministry of Commerce and Industry, Anwar al-Sahrajti, discussed with senior American officials a number of protocols aimed at facilitating commercial exchange, investment and information technology.

The Egyptian and American officials also explored opportunities to increase Egyptian exports to the US and American expertise and mechanisms of managing micro projects.

In this regard, the Egyptian delegation also met officials from the Overseas Private Investment Cooperation (OPIC) and discussed a $250m subsidy for Egyptian banks through the CHF Company. The money will be used in micro project loans.

In working toward filling the gap in the trade balance between the two countries, the Egyptian convoy asked the Americans to open their markets to Egyptian citrus and strawberry exports after they acquire all the necessary technical and health requirements.

At the end of the discussions which lasted for three days, Al-Sahrajti met with officials from the US Chamber of Commerce and representatives of 14 major US companies that operate in Egypt.

The US is the second largest world commercial partner with Egypt after the EU. The size of commercial exchange between the two countries reached $8.5billions in 2011.