RSS   Newsletter   Contact   Advertise with us

U.S. investments in Egypt hit $21.8 billion

Christian Fernsby ▼ | October 23, 2020
Minister of Trade and Industry Nevine Gamea has said that the volume of U.S. investments in Egypt currently stands at USD 21.8 billion.
Nevine Gamea
Egypt   Nevine Gamea
Gamea made the remarks on Thursday during her meeting with a U.S. State Department delegation led by Under Secretary of State for Economic Growth, Energy, and the Environment Keith Krach.

Topics: U.S. Egypt

During the meeting, the trade minister lauded the strategic and long-standing ties between Egypt and the U.S. at all levels, noting that the U.S. market is a key export destination for a large number of Egyptian products.

She said that the Egyptian and American political leaderships pay great attention to fostering bilateral economic cooperation, with a view to making a quantum leap in intra-trade rates and increasing investments of American companies working in the country.

Gamea noted that she probed with the American delegation the possibility of cementing bilateral cooperation in the sector of small and medium-sized enterprises, for being a key pillar in the national economy.

On his part, Krach said that the U.S. is keen on boosting cooperation with Egypt, which he described as a strategic partner.

The U.S. official asserted that Washington seeks to strengthen its economic partnership with Cairo, especially as the Egyptian market is the main gateway for U.S. exports to a large number of countries in Africa and the Middle East.