Minister of Investment and Foreign Trade Mohamed Farid held talks with Mark Mitchell, US Deputy Assistant Secretary of Commerce for Middle East and Africa Affairs, and a delegation from the US Embassy in Cairo led by Commercial Counselor Paul Oliva, to discuss ways of strengthening economic and investment cooperation between Egypt and the United States and exploring new opportunities to expand US investments in the Egyptian market.
Farid affirmed the ministry’s commitment to addressing obstacles and challenges facing US investments, improving the investment climate and streamlining procedures for investors, thereby attracting more US capital and enhancing private-sector participation in economic development efforts.
The talks covered trade developments between the two countries and the most appropriate mechanisms for addressing them, as well as a number of promising investment opportunities, particularly in mining and artificial intelligence. The two sides discussed opportunities to strengthen cooperation in mining by attracting specialized US companies engaged in mining and processing activities and leveraging Egypt’s mineral resources and mining base to maximize local value added.
The meeting also reviewed Egypt’s competitive advantages as a destination for US investment, foremost among them its strategic location, availability of qualified human resources and access to regional markets.The minister stressed that work would continue to turn available investment opportunities into clearly defined, viable projects.
The two sides also agreed to maintain dialogue and coordination to address trade- and investment-related challenges and strengthen communication channels between relevant authorities and business communities in both countries through follow-up technical meetings aimed at advancing the issues discussed and turning proposed opportunities into actual investment projects.
The meeting was attended by officials from the General Authority for Investment and Free Zones (GAFI) and the Ministry of Foreign Affairs on the Egyptian side, while the US delegation included officials from the US Department of Commerce and the US Embassy in Cairo.
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