Egypt’s Foreign Minister Sameh Shoukry met with members of the Business Council for International Understanding (BCIU), on the sidelines of the UN General Assembly meetings.
Ambassador Ahmed Abu Zeid, the spokesperson for the Ministry of Foreign Affairs, said that the BCIU is one of the most important American business councils, and therefore it’s important for attracting US investments to Egypt.
During the meeting, Minister Shoukry stressed the special nature of this year for the US and Egypt as it marks the centenary of the inauguration of diplomatic relations between the two countries, and that Egypt is the largest trade and investment partner of the US in Africa.
Shoukry stressed the importance of continuous coordination and consultation between the two countries when dealing with the most prominent regional and international files of common interest. During the meeting, the Foreign Minister reviewed the government’s efforts to make Egypt a regional energy hub, especially through its key role in launching the eastern Mediterranean Gas Forum, and its capabilities to liquidate the region’s gas resources and export them to Europe.
He pointed to Egypt’s involvement in plans to develop power lines between African brothers and European partners, and its aspiration to attract more investments in the renewable and clean energy sectors such as solar, wind and green hydrogen, with the aim of increasing Egypt’s share of energy investments to reach 42% by 2035. During the meeting, Shoukry was keen to review the vision of the Egyptian presidency of the 27th Conference of the Parties to the United Nations Framework Convention on climate change (COP27) on ways to strengthen international climate action.
The Foreign Minister stressed Egypt’s belief in the important role of the private sector in turning climate pledges into a concrete reality on the ground, and therefore the Egyptian presidency of the conference seeks to enhance the level of dialogue and coordination with the private sector in order to include its visions in global efforts to confront climate change.
A lengthy interactive discussion was held during the meeting between the minister of Foreign Affairs and members of the BCIU on the investment opportunities offered by Egypt to the American private sector, and Shoukry was keen to answer the participants’ inquiries in this regard.
