DoorKnock Mission Doesn't Represent Egypt's Govt, But Seeks Boosting U.S. Investments The USA Has A Significant Role In Granting Egypt The IMF's Loan Mr. Gamal Muharam, Chairman of the American Chamber of Commerce in Egypt, said that the chamber's delegation, which is visiting Washington at the present time, mainly focuses on creating new jobs through joint American Egyptian ventures. The Doorknock Mission comprises 40 investors, who held as to 200 meetings with the Congress, the Obama administration and various research centers so as to transfer a positive image about investments in Egypt. Muharram has described the current mission as the most significant in comparison with the former missions, as this mission bears big responsibilities owing to it is the first after Mohamed Morsi elected a president along with the critical condition of the Egyptian economy and hampering the negotiations between the International Monetary Fund (IMF) and the Egyptian government. The talks with the U.S. side target the possibility of resuming the negotiations about the free trade agreement between Egypt and the USA, because Egypt is in need for such agreements to bolster its economy and resolve the current crisis, Muharam said, pointing out that the mission represents the Egyptian private sector. Muharam emphasized that the mission doesn't represent the Egyptian government in the deliberations that is conducting now in Washington. However, the mission is aiming to transfer a positive image about the investments in the Egyptian market, eliminating the fears of the U.S. side; paving the way for boosting the international cooperation with Egypt, finding solutions for the disputes between the two sides, and ramping up the U.S. investments and trade with Egypt. He referred to the significance role of the U.S. in urging the international institutions to support Egypt; especially the IMF in order to get the $4.8 billion loan. The loan will open the door for increasing the international investments to Egypt and improving the level of the Egyptian economy in the international agencies. Mr. Gamal Muharam also indicated to the meeting that was convened between the American Chamber and the Governor of the Central Bank of Egypt, Hesham Ramez. The meeting was welcomed by the American side amid the trust message it sent. The Governor has reviewed the important features of the monetary policies and procedures that the CBE take to enhance the Egyptian economy, in addition to the challenges facing it; especially the cooperation between the government and banking system to achieve the instability for the Egyptian banking market. The Egyptian delegation will convene a meeting Monday afternoon with some officials of the U.S. Department of State to look into the mechanisms of facilitating the economic cooperation between Egypt and the USA. Also, the DoorKnock mission will meet Tuesday with Dr Abdel Shakour Shaalan, Representative of IMF in the Middle East and North Africa, besides some other representatives to acquaint the latest developments over negotiations between the Egyptian government and the IMF, particularly after the visit of its technical mission to Egypt. Egypt's DoorKnock mission, led by Gamal Muharam, left Cairo on Wednesday night, and headed to the USA to kick off new deliberations with senior U.S. officials and members of Congress to strengthen the economic cooperation between the Egyptian private sector and its American counterpart.
