Speaking to a media delegation accompanying a “Doorknock Mission” organized by the American Chamber of Commerce in Egypt, Yehia El-Watheq Bellah, minister plenipotentiary for economic and commercial affairs at the Egyptian embassy in Washington, said the partnership between the two countries extends beyond political cycles.
The minister stated that despite the changes in the US administration and the new trade approach adopted by President Trump’s administration in dealing with different countries, Egyptian-American relations fundamentally transcend narrow political calculations or changes in leadership at the White House.
“We view the United States not only as a global political power, but as the largest economic engine in the world,” he said, adding that “When we speak of an economy that invests $7 trillion in global markets, we are talking about an opportunity Egypt cannot afford to overlook.”
“Egypt is an indispensable partner in the Middle East, with competitive capabilities that position it as a launch platform for American investments into Africa and the region.”
El-Watheq Bellah added that with the arrival of the new US administration last year, bilateral trade witnessed a historic leap, with US exports to Egypt reaching $9.5 billion.
The energy sector (oil and gas) accounted for approximately $4.4 billion of this total, reflecting Egypt’s strategic orientation toward leveraging US facilities in the energy sector to secure domestic needs at competitive prices and specifications.
On the Egyptian side, exports to the US reached $2.9 billion, marking a 13 percent increase from the previous year. However, he acknowledged that this figure still falls short of ambitions.
Egypt continues to rely heavily on the Qualifying Industrial Zones (QIZ) agreement, which contributes around $1.3 billion in ready-made garments and textiles, followed by food products and iron and steel.
The goal, he emphasized, is to surpass $5 billion in non-oil exports by diversifying products, targeting higher value-added sectors, and raising awareness among Egyptian exporters about the requirements of the US market.
“Our new strategy is specialization instead of dispersion. We cannot promote 70 sectors at once,” he noted.
Regarding investment, the minister affirmed that Egypt possesses promising opportunities across multiple sectors, including telecommunications, pharmaceuticals, automotive manufacturing, agro-industry, and financial services.
He pointed out that the Ministry of Investment has adopted a new approach to attracting foreign investors, including Americans, by promoting opportunities aligned with investors’ actual interests rather than imposing predefined sectors, while also streamlining procedures for launching projects.
He further explained that the ministry is actively promoting the advantages of free zones and economic areas, particularly the Suez Canal Economic Zone, as well as the benefits of Egypt’s network of free trade agreements with various countries and regional blocs.
These agreements enable investors to access multiple neighboring markets, especially in Africa.
Amid growing concerns over the volatility of maritime routes in the Gulf and the Strait of Hormuz, global companies are increasingly viewing Egypt as a “safe haven,” given its strategic access to both the Mediterranean and Red Seas, and the Suez Canal, which remains a vital artery of global trade.
In this context, El-Watheq Bellah stressed that current global developments present a genuine opportunity for deeper and more productive cooperation between the two countries.
“To the American investor, I say: Egypt is not just a market of 105 million people — it is your gateway to 2 billion consumers through our trade agreements. The ideal time to invest in Egypt is now, before the reform cycle is completed and costs rise.”
“And to the Egyptian citizen, I say: we are fighting at every roundtable in Washington for every job opportunity and every dollar entering the national treasury. The road is not easy, and global challenges are significant, but Egypt possesses the human and geographic assets that place it on the verge of a historic economic transformation.
“We are building a ‘New Egypt’ at the heart of the global economy, and the results are beginning to show in numbers that do not flatter,” he added.
However, he said, “We cannot attract 21st-century investments with laws dating back to the 1950s and 1960s. We need a legislative revolution that aligns with the era of artificial intelligence and digital trade.”
He emphasized that the government is fully aware of this reality, noting: “We are working today as an integrated ‘beehive’; the Minister of Finance complements the role of the Minister of Investment, and the Minister of Trade coordinates closely with the Ministry of Foreign Affairs.”
“The era of isolated bureaucracy is over. Today’s investor needs to register a company in minutes and obtain land within days. We are focusing on the full digitalization of procedures and minimizing human intervention, because transparency and speed are the real currency in today’s investment landscape.”
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