The United States will not only support Egypt's political reforms but it will also back the country in the drive to enhance its position in the global economy, US envoy in Cairo Anne Patterson said, stressing that a "democratic Egypt could be a powerhouse in global markets". "A democratic Egypt that protects the rights of its citizens and businesses will become a powerhouse in global markets," Patterson, who took over as the US Ambassador here six weeks ago, said at a meeting hosted by the American Chamber of Commerce. Patterson added that her country is committed to the development of Egypt's private sector and "to Egypt's reaching its enormous economic potential ��" building along the way a foundation for a partnership with the new democratic Egypt". The US diplomat stressed that Egyptian-US strategic trade dialogue will contribute to building Egyptian trade capacity and providing Egyptians with jobs. The Ambassador, who reiterated her country's commitment to supporting Egypt economically and politically, stressed, however, that the Egyptian people should shape their future themselves, despite pinpointing four key areas for developing Egypt's economy. "There are four key areas in which the United States can work in partnership with Egypt to support the private sector here: access to capital, workers' skills, regulatory reform and more open markets," she told the gathering.
Patterson gave details on how the US can help Egypt to develop such areas, pointing out that the country's future lies with the private sector, with its ability to innovate, and with its commercial links to the broader world, including the US, and not with international assistance. The US official said she hopes that a free trade agreement between the US and Egypt will be finalised in the future. "We [Egypt and the US] want to move quickly to work on the specific building blocks for freer trade, not only with the US but also with [Egypt's] neighbouring countries," she stressed.
