Washington – Head of the American Chamber of Commerce in Egypt (AmCham) Tarek Tawfik said on Friday that an American investors delegation will visit Egypt in October, including 50 major American companies. He added that the expected visit will be an important step towards boosting bilateral economic ties, giving American companies the chance to learn about promising opportunities in Egypt.
In a statement to the press delegation accompanying the annual door-knock mission to Washington DC organised by the AmCham, Tawfik said this year’s visit is different than past ones as Egypt’s economic reform programme has started to bear fruit. The reforms, he added, represent success praised by the International Monetary Fund and World Bank experts.
Tawfik pointed out that the US applauded President Abdel Fattah Al-Sisi’s decisions to reform the Egyptian economy, where he risked his popularity, unlike previous political leaders.
The door-knock mission held a series of meetings with several institutions, including the State Department and research centres. The mission conducted a total of 89 meetings, held from 12 March through 16 March, including 33 meetings with members of Congress, 15 meetings with congressional staff, four meetings with congressional staff leadership, and one meeting with the Congressional Research Service.
Nine executive branch meetings were also held, as well as five meetings with international financial institutions, two meetings with influential figures, 16 meetings with think tanks, and four high executive meetings.
Tawfik said that the AmCham delegation’s discussions with US Congress members emphasised the importance of boosting cooperation between Egypt and the US.
The recent gas agreement and discoveries in the Eastern Mediterranean had a significant impact on Egypt’s economic image within the American business society, Tawfik said. He noted that the American side praised the accurate and precise implementation mechanism of reforms, adding that they are now anticipating the second phase of these economic reforms.
Tawfik ruled out that the Muslim Brotherhood group’s lobbying would have any effect on American political circles or research centres in the coming period.
The delegation officially requested that more officials from the two countries join the business dialogue rather than limiting it to foreign affairs and defence officials.