By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    German ambassador to Cairo calls for more privatisation of public companies
    German ambassador to Cairo calls for more privatisation of public companies
    June 7, 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    $513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
    June 7, 2023
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    Qatar Investment Authority wants to fully acquire Telecom Egypt’s stake in Vodafone Egypt via subsidiary: Sources
    June 7, 2023
    7th annual Capital Markets Summit to be launched on 20 June
    7th annual Capital Markets Summit to be launched on 20 June
    June 7, 2023
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    CBE receives 21 offers worth $644.1m to cover dollar-denominated T-bill issuance
    June 7, 2023
  • Politics
    PoliticsShow More
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
    June 7, 2023
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    Egypt, Serbia hold round of consultations to discuss strengthening bilateral relations
    June 7, 2023
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    All civilians in Sudan are in danger: UN High Commissioner for Refugees
    June 7, 2023
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    Arab League calls on Security Council to shoulder its responsibilities, oblige Israel to end occupation
    June 5, 2023
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    Institute of Diplomatic Studies holds training course for diplomats from South Sudan
    June 5, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Door-knock mission concludes annual visit to DC
Share
Notification
Latest News
Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt’s Al-Sisi starts African tour to Angola, Zambia, and Mozambique
Egypt Politics
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Economy > Door-knock mission concludes annual visit to DC
Economy

Door-knock mission concludes annual visit to DC

Nevine Kamel
Last updated: 2018/03/17 at 3:22 PM
By Nevine Kamel 4 Min Read
Share
SHARE

Washington – Egypt and the United States have always enjoyed a special relationship since the October war of 1973, following late Egyptian president Anwar Al-Sadat’s decision to gradually shift from the Soviet camp, sign the 1978 Camp David Accords and Egypt-Israel Peace Treaty in 1979, and establish stronger ties with Washington in return for various kinds of support, whether economic, military, or political.

However, what was once an enduring alliance has recently witnessed ups and downs, while gradually deteriorating over time, to become a mere transactional relationship where the US provides Egypt with $1.3bn in military assistance and $250m in economic aid. The lowest point was under Obama’s administration, which had decided to suspend the $1.3bn military aid to Egypt and suspend the delivery of 10 Apache helicopters. However, Washington decided to deliver the Apaches in 2014 and to fully restore military aid in 2015.

Hopes of writing a new chapter of American-Egyptian relations were revived with Donald Trump taking office, especially with the mutual understanding between him and President Abdel Fattah Al-Sisi, as the Egyptian president was the first Arab leader to congratulate Trump on his election victory, and Trump announced that there is good chemistry between them when they met in New York while Trump was still on the campaign trail.

Egypt, which has been plagued by economic and political turmoil, as well as security challenges following the 25 January revolution that toppled former president Hosni Mubarak, could greatly benefit from stronger economic ties with the US.

Egypt’s trade and investment relationship with the United States has deepened over the last 30 years. Since that time, the two countries have sought ways to increase their economic and trade ties, notably through various partnerships and agreements. 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 is among the top 10 investors in Egypt.

The United States is one of Egypt’s largest single trading partners, with a volume of trade reaching $3.9bn in 2016, down from $6.3bn in 2015. Egypt’s exports to the US amounted to $1.3bn in 2015/2016, representing 7% of total Egyptian exports, while Egypt’s imports from the US totaled $2.6bn, equivalent to 4.6% of total imports during the same period.

A large portion of Egypt’s exports to the US comes from the Qualifying Industrial Zones (QIZs), which comprise around 45% of Egypt’s total exports to the US and about 2% of Egypt’s total exports. QIZ exports to the US amounted to $895.1m in 2015.

Currently, 35 companies have concluded the annual door-knock campaign organised annually in Washington DC by the American Chamber of Commerce in Egypt, which started on Sunday. The mission, the 40th in the history of the chamber, aims to promote investment in Egypt through meetings with a number of American companies and financial institutions, in addition to holding a series of meetings with decision-makers and officials from various US executive departments, such as the Departments ofCommerce, State, and Defence, as well as members of the US Congress and representatives from banks and international financial institutions, such as the International Monetary Fund and the World Bank.

In the following pages, Daily News Egypt will provide a dive into the mission’s meetings and highlight its most prominent outcomes.

You Might Also Like

Egypt looks forward to strengthening strategic relations with US: Maait

Egypt and France discuss joint cooperation in the health sector 

Egypt, Italy discuss joint cooperation in environment

Iranian Supreme Leader Ali Khamenei welcomes activating ties with Egypt

Africa Day: Egypt celebrates 60th anniversary of African unity

TAGGED: DC, Door-knock, Egypt, the United States
Share this Article
Facebook Twitter Email Print
Previous Article Luxor African Film Festival kicks off with marathon of distinguished screenings from the continent
Next Article Egypt is on track; second wave of reforms must start: AmCham members in Washington
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Chimpanzees' communication development echoes human infants
Chimpanzees’ communication development echoes human infants
Science
Does multimorbidity impact chronic disease treatment?
Does multimorbidity impact chronic disease treatment?
Science
German ambassador to Cairo calls for more privatisation of public companies
German ambassador to Cairo calls for more privatisation of public companies
Business
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
$513m increase in Egypt’s foreign-exchange reserves to $26.686bn in May 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?