CAIRO: The United States and Egypt are looking to boost their economic relationship 7 months on from a political uprising that ousted former President Hosni Mubarak and his government. The American Trade Commission in Egypt said it plans to host an American delegation in December to look at means of increasing cooperation between American and Egyptian companies. It also comes on the back of worries that the Egyptian economy continues to plummet as a result of the January 25 uprising and tactics taken by the ruling Supreme Council of the Armed Forces (SCAF). Mahmoud Gabr, an economic consultant with Siemens, said that he believes the time is right to look at cooperation between local companies and foreign enterprises in order to increase the country's economic output. “We have been struggling and although there have been a few signs of positive movement, for the most part foreign business is apprehensive about moving back into Egypt,” he told Bikyamasr.com. “What we are looking to do is make the situation on the ground here enticing to have companies join up and work with local companies to increase the economy and doing business,” he added. Hisham Fahmy, executive manager of the American Trade Chamber, said the planned visit with US business people would consist of consecutive meetings aimed at increasing cooperation in different economic sectors. He added that Egypt recently sent a delegation to the US to “discuss how to cooperate in the agriculture, telecommunication and contracting fields.” Telecom, Gabr said, was arguably the most important sector for Egypt's economy as it pushes forward and “the US and Egypt have a lot of common ground that can be achieved through foreign investments in new projects.” BM
