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Friday, 22 June 2018

Egypt's Sisi to focus on economy in trip to Washington: FM Shoukry

The Egyptian president is set to meet with Trump on Monday

Ahram Online , Sunday 2 Apr 2017
Sisi Trump
A file photo of Egypt's President Abdel Fattah El-Sisi and then-presidential candidate Donald Trump in September during the UNGA meetings in New York, United States, September 2016. (Photo: Egyptian Presidency)
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President Abdel-Fattah El-Sisi will focus on Egypt's economy during his trip to Washington, Foreign Minister Sameh Shoukry said in a televised interview Sunday.

El-Sisi will meet with several key decision makers during his visit and will give a talk at the American Chamber of Commerce. Communication is, in addition, ongoing with major companies in the US, Shoukry added.

The US is economically capable of supporting the Egyptian economy by increasing direct investment, Shoukry stated.

El-Sisi arrived to Washington Saturday for a five-day visit that will include talks with President Donald Trump.

Egypt has recently introduced a number of fiscal reforms, including subsidy cuts and the introduction of new taxes, aimed at stemming a growing budget deficit. Last November, the Egyptian Central Bank freely floated the Egyptian pound with the aim of alleviating a dollar shortage and attracting foreign investors.

President Donald Trump's administration had announced its support to Egypt's economic reform plan as well as his approach to counterterrorism.

Last Friday, a senior White House official told Reuters that Trump will seek to rebuild the US relationship with Egypt at the meeting planned Monday with El-Sisi.

The relationship between Egypt and the US was strained after former President Barack Obama criticised the ouster of the Muslim Brotherhood's Mohamed Morsi in July 2013.

The US froze military aid to the country in October of 2013 but resumed it in March 2015.

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