Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    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    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'    Federal Reserve maintains interest rates    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    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    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.



Door-knocking mission begins its annual visit to the US
Campaign includes meetings with companies, financial institutions, parliamentarians, and senior administration officials
Published in Daily News Egypt on 30 - 04 - 2017

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.


Clic here to read the story from its source.