Egypt's gold prices fall on July 31st    Egypt signs new exploration deal with Eni, BP    Sterling set for sharpest monthly drop since 2022    Germany says process towards recognition of Palestinian state 'must now begin'    Egypt, Brazil sign deal to boost pharmaceutical cooperation    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Egypt's Electricity Ministry says new power cable for Giza area operational    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



US senators Kerry, McCain lead business delegation to Egypt
Published in Daily News Egypt on 26 - 06 - 2011

CAIRO: In a symbolic visit to support the Egypt's “extraordinary transition” after the revolution, American senators John McCain (R-Ariz) and John Kerry (D-Mass) reiterated a message of economic cooperation, not dictation.
“The American people on a non-partisan basis want to see this revolution succeed, we want to assist not dictate,” said McCain. “We feel that the United States government can provide assistance and aid in a broad variety of way.”
The US senators led a business delegation to Egypt, and on Sunday, rang the opening bell at the Egyptian Stock Exchange.
McCain, however, pointed out that while America is behind Egypt in its struggle for democracy, they want to be assured that the success of the revolution also means peace and security for the American people.
“We want to make sure that the American people are able to live in a more secure world if this revolution succeeds and we are very optimistic that it will,” he said.
According to McCain, “The success and failure of the revolution in this part of the Arab world will be directly related to the ability of providing investments and jobs for the Egyptian people.”
Before touring the Coca-Cola factory in Cairo, both senators sat down with Egyptian Field Marshal Mohamed Tantawy where they suggested that the de facto president support international, third-party observers in the upcoming elections.
“Our recommendations included the idea of having third party organizers with Egypt's upcoming campaigns and elections,” said McCain. “We also suggested ways to have more economic cooperation, further assistance to Egypt's military, and hastening the legislation of proposed aid to Congress.”
McCain pointed out that in their meeting, Tantawy made it very clear that the military is seeking the earliest possible date to deliver over the country to a civil government.
The senators emphasized the need for urgency in legislation of proposed aid to Egypt from Congress as well as enhancing current economic ties between both countries.
“We are not here to tell anyone anything, we are here to listen to offer help because we were inspired by the events of Tahrir Square and what Egyptians are doing,” said Kerry. “We need to work the details of how our assistance program can meet the needs of the Egyptian people and create the maximum amount of jobs.”
Kerry added that while the Egyptian people “do not lack courage, skill, or hope,” they lacked the opportunity to utilize these qualities.
“We believe ultimately dictators or despots can not suppress the people's dreams,” he said.
The senator hopes that the American people can help Egyptians reach their full potential whether it's through education, investments, or job creations.
“What Egypt does can change the region and will help in the quest for a better future,” Kerry added.
Jeff Immelt, chairman and CEO of General Electric Co. and Curt Ferguson, president of Coca-Cola Middle East, joined the senators in Cairo's free zone area where the Coca-Cola factory operates.
McCain and Kerry visited Egypt numerous times before and after the Egyptian revolution.
McCain also discussed the push for reform across the region, calling it the “Arab spring,” specifically mentioning Syria and the need for America's support, not military interference.
“Let's call Bashar Al-Assad what he is, and that's a butcher, and let's recall our ambassador who has no business in Damascus anymore, let's impose sanctions on the Syrian government until they stop massacring their own people and let's work with Turkey to help provide assistance to the thousands of refugees who have been forced to leave Syria,” he said.
Mohamed Abdel Salam, chairman of the stock exchange, said the delegation's visit sends a strong message from the US government, reflecting full support for Egypt during this period.
Current US Ambassador to Cairo, Margaret Scobey, and her predecessor David Welch were on hand at the bourse, along with executives from companies including Apache and General Electric.
Both senators were optimistic about Egypt's economic future, according to a statement from the exchange.
Abdel Salam said that most foreign financial institutions operating in the stock market before January 2011 were conservative investors due to the size of political risk, which has changed after the resumption of trading on March 23 evidenced by the confident movement of foreign institutional investment in the market.


Clic here to read the story from its source.