Dailynewsegypt

Author: Nevine Kamel

  • Bright Star military maneuvers to return before year’s end: US ambassador to Egypt

    Bright Star military maneuvers to return before year’s end: US ambassador to Egypt

    US ambassador to Egypt Robert Stephen Beecroft said that the Bright Star military maneuvers between the United States and Egypt will start again before the end of the year, after being suspended in 2009.

    The first US-Egyptian joint military training took place in 1980. It then expanded to become a semi-annual training, the most famous of which were the Bright Star maneuvers in 1999, which included 7,000 soldiers from 11 countries.

    During his meeting on Sunday with members of the American Chamber of Commerce (AmCham) in Egypt, on the sidelines of the annual conference of the chamber, the ambassador said that the coming period will witness intensive exchange of visits between the two countries, especially as the ties between both states have seen positive improvements after President Abdel Fattah Al-Sisi visited Washington in April. He noted that the meeting between Al-Sisi and Trump in Riyadh on Sunday was very important and confirms the improvement of relations.

    He explained that the military aid to Egypt will not be cut and that economic aid is still at a high level compared to other countries. He pointed out that Egyptian-American relations are witnessing great progress during the current phase.

    He noted that the AmCham door-knocking campaign is very important as it sheds light on the positive improvements, as well as the challenges.

    He revealed that a US delegation will visit Cairo next month to start negotiations related to the crises in Libya, Syria, and Yemen. He added that the US supports Egypt in solving these problems, next to securing support for the economic reform programme and boosting investments.

  • Egyptian community calls upon Al-Sisi to hold meetings with its members

    Egyptian community calls upon Al-Sisi to hold meetings with its members

    New York- Ambassador Ahmed Farouk, consul general of Egypt in New York, stressed the importance of the initiative launched by 120 members of the Egyptian community in New Jersey and New York to establish the Egyptian-American Association for Entrepreneurship.

    “This association is a good nucleus for future successes, especially with the investment ideas it offers, through which it can promote the Egyptian economy,” said the ambassador.

    This came during the fourth annual conference organised by the Egyptian-American Group to Support the Egyptian Economy under the slogan “Yes we can”.

    The ambassador praised the role of the Egyptian community in the United States, which—despite the difficulty of living burdens—is also keen to provide Egypt with all the material support in the fields of health, education, and development of slums, among other fields.

    In this context, Egyptians abroad launched an initiative to support public hospitals in the financially and technologically poor areas. “Each group of young people can help raise the quality of one hospital or one unit at a hospital,” said Nourhan Saber, coordinator of the initiative. She explained that care of the health of low-income people and children can make a big difference in the social and economic path of families. She noted that the initiative established a fund financed by members of the community.

    During the meeting, the ambassador revealed that a second mission will go to the US to provide and renew national IDs for Egyptians living abroad within a few months.

    A first mission visited the United States last month and issued 2,000 ID cards.

    “The visit of Pope Francis to Egypt came at the right time and had a positive and widespread reaction in American society,” said Hany Nagy, the consul’s assistant. “It assured all the Egyptian state’s ability to achieve stability and fight terrorism.”

    The annual meeting of the Egyptian community in New York discussed the importance of the role of Egyptians in America in contributing to the advancement of the Egyptian economy.

    In this context, Nasser Saber, president of the Egyptian American Group to Support the Egyptian Economy, called on President Abdel Fattah Al-Sisi to adopt the idea of ​​organising an annual conference for Egyptians abroad as a forum for dialogue on economic, political, and social issues and how Egyptians can contribute to support the Egyptian economy and help Egypt leave behind this tough phase. He also called for the participation of young Egyptians abroad in the monthly youth conferences. “President Al-Sisi, during his meeting with members of the community here, promised to do so,” Nasser added.

    On the participation of the American community in the advancement of the economy, Nasser called on the government to find simplified mechanisms that allow Egyptians abroad to set up US dollar joint stock companies to invest in the 1.5 million feddans project and in the fields of agriculture, industry, and tourism to produce goods and services that fit international standards for exporting, so that their participation does not become limited to the purchase of land and real estate.

    “If we seek to attract foreign investment, the Egyptians abroad should be addressed first,” he said, adding that the remittances of Egyptians abroad could increase from $18bn to $28bn through the provision of facilities for Egyptians in investments and money transfer.

    “We do not just want to invest in dollar certificates with a return of 3%, but we want a higher and better return investment,” he stressed.

    Samir Bassiouni, a US tax judge and co-founder of the Egyptian American Entrepreneurship Association, said that the association will soon launch an interactive portal in both Arabic and English to brief Egyptians on the latest developments in the field of entrepreneurship and real-world experiences in establishing and developing various projects.

    Bassiouni pointed to the need for legislative and executive measures to protect the investments of Egyptians abroad in their country, because their time does not allow for continuous efforts to follow up on these investments.

  • Egypt is most important country for US outside of NATO members: US official

    Egypt is most important country for US outside of NATO members: US official

    Washington DC- An official at the US department of state said that Egypt is considered the most important country for the US outside of the members of the North Atlantic Treaty Organization (NATO), describing the relations between the two countries as a “strategic partnership.”

    The official, who preferred to stay anonymous, said that the US realises the importance of Libya for Egypt, not just in terms of security, but also in terms of economy. “Egyptians understand so well what is happening in Libyan lands. There is an important dialogue between Egypt and the US to reach a working formula that encourages Libyan sides to work together,” the official said.

    He explained that the meeting between Libyan marshal Khalifa Haftar and Fayez Al-Sarraj, Libya’s prime minister, is considered a step forward, stressing that America will work with Libya to find a solution for the crisis and face the challenges there.

    Regarding the situation in Syria, the official said that the US is working with Egypt and other parties to solve the complex dilemma. “We support the unity of Syria,” he said.

    The official stressed the keenness of president Trump on maintaining relations with influential countries in the Middle East, explaining that he still does not know the timings of his potential visits to these countries.

    Regarding the economy, the official said that the US appreciates the efforts for economic reforms in Egypt and trusts that Egypt will be able to successfully overcome the challenges of the reform process and create a climate attractive for investment.

    “I do not know what should be done regarding agreements of free trade between the two countries, but I am positive that the American business community sees Egypt as a promising opportunity,” said the official regarding the establishment of a free zone between the two countries.

    Regarding the reduction of economic aid provided to Egypt, the official stated that it is too early to estimate the volume of the aid to be given. “This will be decided after the American administration discusses the budget and the congress approves it. The signals from both parties show the importance of Egypt, and that if any reduction took place, it will be a global move—not just in Egypt,” he added.

  • Door-knocking mission opens a new page with America : Aclimandos

    Door-knocking mission opens a new page with America : Aclimandos

    The Egyptian-American relations begin a new page of unprecedented understanding and cooperation, according to the head of the door-knocking mission, Anis Aclimandos, at the end of the Egyptian door-knocking mission to Washington organised by the American Chamber of Commerce in Egypt.

    Aclimandos added that Al-Sisi’s visit to Washington put a foundation for a new kind of partnership in the fields of anti-terrorism and economic cooperation, as well as solving hot regional crises.

    We must take advantage of the current momentum of the relations between the two countries, so as not to affect any fluctuations that may occur thereafter.

    According to Aclimandos, 87 meetings were held, including 54 with members of the US house of representatives and senate from both the Republican and Democratic parties; 9 meetings with executive bodies such as the treasury, trade, energy, state, and defence departments and other meetings with influential public figures at George Washington University and the New York Times; 16 meetings with research centres, including AIPAC, the Jewish Council, the Council of National Security Studies, and the Middle East Institute, and the leadership of the American Chamber in Washington that includes 3 million members, in addition to two meetings with the Egyptian ambassador and the military attaché in Washington.

    The American community is interested in the entry of US products to Africa from the gate of Egypt through the establishment of investment projects in Egypt, and exporting their products to the African market is growing, taking advantage of the free trade agreements held by Egypt with African countries, said Aclimandos.

    This is after the Egyptian government took a number of measures, such as the flotation of the pound, reforming subsidies, and facilitating the transfer of profits of international companies.

    The mission has proposed the renewal of negotiations on a free trade agreement between the two countries. The US side—in all meetings—did not reject the principle, although it is too early to talk about a specific date for the beginning of those negotiations.

    Members of the Democratic Party in the US house of representatives and senate confirmed their appreciation of the reforms taking place in Egypt and called for continuing the serious implementation of the reforms, according to the president of the Chamber.

    In recognition of the importance of the partnership between the two countries in the economic field, Omar Mohanna, chairperson of the Egypt-U.S. Business Council (EUSBC), asserted that the American side stressed that the economy and business will be among the axes of the strategic dialogue between the two countries.

    The US side stressed in more than one meeting its aim to strengthen the strategic partnership, and even described the relationship as an alliance by the administration officials or members of congress, and that’s something that has not been heard for many years, Mohanna noted.

    At the political level, Mohanna stressed that the mission has noticed a difference of the American desire to end the conflicts in Libya and an appreciation of the importance of achieving stability in this country for Egypt in terms of security and politics.

    The Americans are now confident that Egypt is the cornerstone of regional stability and that fighting terrorism requires working on more than one axis to address the essential causes of terrorism, including economic ones, Mohanna said.

  • Elbeblawi calls for progressive taxes to increase financial resources

    Elbeblawi calls for progressive taxes to increase financial resources

    Washington DC- Hazem Elbeblawi, executive director at the International Monetary Fund (IMF), called for applying a progressive tax programme​ in Egypt, similar to other international programmes, as well as solving tax evasion problems, in order to secure legitimate financial resources for the state treasury.

    On the sidelines of the door-knocking delegation in Washington, he added that Cairo was suffering from a lack of foreign currency, so the IMF called on the Egyptian government to change its monetary and financial policies.

    Elbeblawi continued that the economic reform measures, including the flotation of the local currency and increasing energy prices, were necessary, despite their harshness.

    “These measures were like bitter medicine, but it was necessary to recover the economy,” Elbeblawi said.

    He pointed out that the decline in tourist flows caused large losses to the Egyptian economy, amounting to $14bn, in addition to the decline in remittances.

    Elbeblawi stressed that the government should pay more attention to exports through improving the quality of products in accordance with international standards.

    Despite the difficulties experienced in Egypt due to recent economic decisions, Elbeblawi expressed his optimism that Egypt will achieve economic stability soon. He pointed out that the condition of the Egyptian economy is better now than in previous years, noting that the world now believes in its ability to attract more investments and get international loans due to the international community’s confidence in the Egyptian economy.

    Elbeblawi explained that the borrowing can be a useful means if it is exploited properly, noting that the United States is the world’s largest borrower but is also the world’s largest economy as well.

    He concluded that the IMF believes in the Egyptian economy’s ability to overcome its problems and implement the economic reform measures.

  • Egypt to receive 3rd tranche of World Bank loan in December

    Egypt to receive 3rd tranche of World Bank loan in December

    Hafez Ghanem, vice president of the World Bank for the Middle East and North Africa (MENA), said that Egypt will be receiving the third portion of the World Bank loan in December.

    He stressed in a statement made to the press delegation accompanying the American door-knocking delegation in Washington that the third portion will be worth nearly $1bn.

    Ghanem stressed that Egypt is considered the largest country in terms of cooperation with the bank, which reflects on the confidence of the World Bank in it. Iraq comes after Egypt in terms of financing volume from the World Bank.

    Ghanem said that he will be visiting Egypt next week to meet the Ministers of Finance, Investment, Agriculture, Housing, Electricity, and Education in order to look into cooperation methods in various projects in Egypt.

    Egypt’s foreign debt is not risky, according to Ghanem, who added that the local debt is what represents a huge burden especially that the interest rate for local debt ranges between 15-20%.

    Ghanem called for the importance of getting rid of intangible support and replacing it with monetary support, explaining that it is not right to work according to a support system that does not achieve justice or keep up with the technological development.

    He said that the bank is working to increase investments in Egypt to create jobs and expand the social insurance network to achieve social justice. He added that the bank has a specialised programme to increase investments in Upper Egypt by $500m; programmes to support housing, sewage, and water projects in the Delta region; and programmes to support hospitals and the Takaful and Karama programme.

  • US economic aid to Egypt to decline by $38m

    US economic aid to Egypt to decline by $38m

    Washington DC – The US administration has decided to reduce its economic aid to Egypt to $112m, down from $150m, pending Congress approval, said Amr Kotb, director of external relations at the Tahrir Research Institute.

    In a press statement on the sidelines of the door-knocking campaign in Washington, Kotb attributed this decision to the failure of Egypt over the past six years, since the 25 January Revolution, to make good use of a large part of the aid. He added that “there is a trend inside the US administration to reduce its expenditures,” noting that Egypt will not be affected by this reduction.

    “The Egyptian government has achieved improvement in significant economic indicators; however, the people still suffer from the severe surge in prices. Hence, the government has to control inflation, create jobs, and improve the education and health sectors,” said Kotb.

    He added that “President Al-Sisi has made positive steps in this direction, when he launched the [third] youth conference last week, to listen to the young people’s problems.” However, this conference lacked proper representation of civil society organisations, he stated.

    Kotb expressed his concerns that the US administration could reduce its military aid to Egypt in the future.

    Alison McManus, head of research at Tahrir Institute, upheld this opinion, saying that “the US administration is very concerned about what is going on in Sinai and the terrorist attacks targeting civilians and Copts.”

    “No one questions president Trump’s support and respect for Al-Sisi, but this support has not led to any developments on the ground so far. Egypt should not be satisfied with this support, but it should polish its image before the Congress to turn the US support into positive steps,” McManus said.

    She noted that Pope Francis’ visit to Egypt had great importance, which improved the country’s image before the entire world, especially following the terrorist attacks on Copts.

    The current situation raises important questions: is Egypt still the strategic partner of the United States? Would the political events in Egypt shake the US Congress’ confidence in the country’s ability to face political and security challenges? Might the US search for other partners in the region?

  • Washington to cut US economic aid to Egypt by half

    Washington to cut US economic aid to Egypt by half

    Sources in Washington predicted that the US administration would reduce its economic aid to Egypt by half, registering $75m instead of $150m annually, while US military aid will stay at the same level, amounting to $1.3bn.

    The sources said, on the sidelines of the door-knocking delegation in Washington, that the reduction in US aid has nothing to do with the Egyptian-American political relation. They noted that there is a US trend to decline its aid to all countries, especially after the reduction of the US state department’s financial allocations by 29%.

    Head of the US-Egypt Business Council (USEBC), Omar Mahana, said that the US would cut its economic aid to several countries, not only Egypt, and the decision does not reflect Trump’s political position towards Egypt.

    Anis Aclimandos, president of the American Chamber of Commerce in Egypt (AmCham), expected that the reduction of US aid will not affect Egypt, noting that the Egyptian side has not benefited from this aid in the last four years.

    According to Paul Salem, vice president of the Institute for Middle East Studies in Washington, many members of the new US administration aim primarily to protect the US national economy; therefore, they tend to reduce foreign expenditures.

    However, Salem pointed out that the Trump administration’s good relationship with the Egyptian side will boost the Egyptian economy, in a way that does not harm the US local economy. Egypt does not have as strong commercial exchange with the US as China or Mexico do, even though the Trump administration has limited its economic relations with these countries to protect its economy, according to Salem. He noted that the new US administration has not settled its position towards some bilateral issues with Egypt yet.

    On the other hand, the former US ambassador to Yemen, Gerald M. Feierstein, said the US administration’s recognition of the Egyptian market’s importance and the economic reform measures adopted by the Egyptian government have contributed to obtaining the International Monetary Fund (IMF) loan and created a suitable investment atmosphere for American businesspeople.

  • Trump administration has no evidence to label MB terrorist organisation: ex-US ambassador

    Trump administration has no evidence to label MB terrorist organisation: ex-US ambassador

    Washington—Former US Ambassador to Yemen Gerald M. Feierstein said that the Trump administration has not found any evidence yet to designate the Muslim Brotherhood (MB) as a terrorist organisation.

    “There is a clear difference between those individuals belonging to the group [the MB] who commit heinous crimes and the group itself, which no one has any evidence against it,” Feierstein said.

    The ambassador added that the Trump administration has demanded that the Congress and its various institutions investigate this issue, but they could not find any evidence against the group.

    According to Feierstein, the Muslim Brotherhood has successful experiences in many countries, such as Tunisia, Yemen, Jordan, and Morocco, where they peacefully participated in decision making. Therefore, “we cannot generalize some of the individuals’ mistakes and violations that occur in Egypt.”

    He stressed, “Egypt could not be isolated, nor can we get rid of the brotherhood completely.”

    Feierstein pointed out that the Trump administration differs from Obama’s. The bilateral relations now witness more cooperation and support for Egypt’s anti-terrorism efforts in the Sinai Peninsula. Moreover, both Egyptian and American administrations share close visions regarding achieving stability in Libya, which is of great importance for Egypt and its national security.

    “The Congress may disagree with the White House over certain matters in Egypt and they observe some negatives in human rights and civil society, but there is a general agreement on the importance of strengthening Egypt’s capabilities and security system,” according to Feierstein.

    The ex-ambassador believes that the improvement of bilateral relations between the US and Saudi Arabia on one hand, and between Egypt and Saudi Arabia on the other, can be a “positive step” towards creating a tripartite alliance between Egypt, the US, and Saudi Arabia. This alliance could enhance the stability of the Gulf region and solve the Yemen crisis.

    With regards to the US policies towards the Middle East, the ex-ambassador said that the new American administration communicates with the Middle Eastern capitals, including Cairo, to demonstrate the new administration’s policy towards the region.

    “The US administration is interested in the issue of terrorism, Iran, and the Palestinian-Israeli conflict,” Feierstein said.

    He predicted that the US ground forces may enter Syria to strike the Islamic State (IS) group, in addition to the current airstrikes carried out by the US-led international coalition against terrorist groups in Syria and Iraq.

    Moreover, the US administration is working with other parties to help Syrian refugees to return to their homes after they had fled the country due to terrorism and violent acts carried out by the Assad regime.

    Feierstein revealed that some US officials have visited the Gulf states recently to discuss the development and strengthening of their defences to curb Iran’s expansion of influence in Lebanon, Syria, Iraq, and Yemen.

    He added that the US administration seeks to find a solution to the Palestinian issue, noting that the Arab peace initiative is still on the negotiating table. He further added that Trump has discussed the Palestinian-Israeli conflict in his meetings with Egyptian President Al-Sisi, Jordan’s King Abdullah II, and Palestinian president Mahmoud Abbas. Trump will probably visit Riyadh and Israel in the next month to review the developments of the issue. Feierstein furthermore ruled out the transfer of the US embassy to Jerusalem at the moment because Trumps knows that such a move would spark further conflict in the region and harm the peace process.

    Regarding the US position towards Libya, Feierstein believes that America focused in the recent months on cooperation with influential regional forces, such as Egypt and the United Arab Emirates (UAE) to find a way out of the crisis there.

    For Yemen, he said there are several scenarios to settle the conflict between the Houthis and the national government, one of which is to return to the pre-unification system or reduce the centralisation of the government, granting more authority to different regions and groups to manage their own affairs.

  • Door-knocking mission begins its annual visit to the US

    Door-knocking mission begins its annual visit to the US

    Washington DC- Thirty-five companies are set to start the annual door-knocking campaign in the United States on Sunday. The delegation will be in Washington for five days to promote investment in Egypt through meetings with a number of American companies and financial institutions, according to Anis Aclimandos, president of the American Chamber of Commerce in Egypt (AmCham).

    The mission, the 40th in the history of the chamber, will also hold a series of meetings with decision makers and officials from various US executive departments, such as trade, foreign affairs, and defence. It will furthermore meet members of the US congress and representatives from banks and international financial institutions, such as the International Monetary Fund (IMF) and the World Bank.

    Aclimandos added that the delegation this year is of unique importance, following the rapprochement between Egypt and the United States after President Abdel Fattah Al-Sisi’s visit to the US. He expects positive results, noting that the chamber has already been receiving inquiries from American companies regarding investments in pharmaceutical, transportation, education, and food industries.

    He claimed that the picture now is more positive than ever before, as Europe lost much of its strength, which amplifies the US’ importance.

    Aclimandos explained that the mission will focus on presenting the efforts and measures taken by the government in the field of economic reform, such as the flotation of the pound and the reformation of public finances through the application of a value added tax and the restructuring of the subsidies system.

    He pointed out that the mission is not a trade delegation aiming to sign deals, nor is it a government mission to speak on behalf of the government, but a mission of chamber members working to enhance overall cooperation between the two countries and open channels of communications with US decision-makers to explain the real situation in Egypt and rectify the false image some western media allegedly spread about Egypt.

    US investment in Egypt amounted to $21.3bn at the end of 2015, which accounts for 33.2% of its overall investments in Africa.

    Egypt is, therefore, the biggest recipient of US investments in Africa and the second largest in the Middle East. The United States are among the top 10 investors in Egypt.

    Aclimandos estimated the size of trade exchange between Egypt and the United States to be at $6.3bn in 2015. Egyptian exports to the United States make up 2% of total Middle Eastern exports to the states, while Egyptian imports account for 5.8% of all US exports to the Middle East.

    Chairperson of the Egypt-US Business Council (EUSBC) Omar Mohanna said that this delegation will be different than any other previous delegation, considering the positive developments in the Egyptian-American relations after the election of Donald Trump and the Egyptian government’s economic reforms undertaken throughout the last year.

    He noted that the mission will present the recent changes in the investment climate in Egypt, the implementation of the economic reform programme, and the promising opportunities in the Suez Canal area to their US partners.