Mohamed Farid, Minister of Investment and Foreign Trade, and Ahmed Rostom, Minister of Planning and Economic Development, held talks with US Commerce Secretary Howard Lutnick to explore ways to deepen trade and investment relations and discuss key developments in US trade policy and their implications for bilateral trade, in a manner that serves the shared economic interests of both countries.
The meeting took place on the sidelines of the Egyptian ministers’ participation in the B20 Business Summit 2026 in Washington, DC, as part of the preparatory activities for the G20 meetings.
During the meeting, Farid reviewed several issues related to strengthening cooperation in trade remedies and exchanging expertise in this area in accordance with fair technical and commercial standards. He said both sides had agreed to continue technical consultations between the relevant authorities to support the fair competitiveness of Egyptian exports and facilitate bilateral trade.
Farid noted that the Ministry is working to launch the National Foreign Direct Investment Strategy, which aims to identify priority sectors and direct investment promotion efforts towards investments with high added value.
He pointed out that advanced technology sectors, including information and communications technology (ICT), automotive and smart mobility technologies, and cybersecurity, offer promising opportunities for cooperation with US companies in manufacturing, technology transfer and related services.
He also highlighted ongoing efforts to strengthen coordination and integration among various entities and institutions in preparation for launching the Economic Entities Platform, which aims to streamline the investor experience by covering all requirements, from business establishment through to operation.
For his part, Rostom reviewed the Egyptian state’s plan to address the repercussions of regional geopolitical developments, stressing that the economy had demonstrated resilience thanks to proactive fiscal and monetary policy measures.
He noted that the economy recorded real growth of 5.1% in FY2025/2026, compared with approximately 4.4% in the previous fiscal year.
Rostom also highlighted progress in reducing inflation, noting that the headline inflation rate declined to 12% in October 2026, from 12.8% in September, while core inflation fell to 14.1%.
