Sisi discusses economic cooperation, regional crises with high-level US Congress delegation

Ahram Online , Wednesday 30 Aug 2023

President Abdel-Fattah El-Sisi discussed a variety of issues, such as boosting Egyptian-American economic relations and developments in the GERD dispute with a bipartisan US Congressional delegation from the House and Senate on Wednesday.



The delegation included Republican Senator Lindsey Graham and Democratic Senator Robert Menendez, Chairman of the Senate Committee on Foreign Relations, in addition to several officials and members of committees from the House of Representatives and Senate.

Minister of Foreign Affairs Sameh Shoukry also attended the meeting, which was held in New Alamein.

President El-Sisi and the US delegation discussed enhancing economic cooperation between the two countries and promoting American investments in Egypt.

The US delegation praised Egypt's ongoing comprehensive development efforts, including infrastructure upgrades and the founding of new cities.

The meeting also covered cooperation in the petroleum, gas and green energy sectors, as well as land reclamation.

The ongoing negotiations between Egypt, Ethiopia, and Sudan concerning the Grand Ethiopian Renaissance Dam (GERD) were also discussed.

President El-Sisi reaffirmed to the US delegation Egypt's commitment to reaching a binding legal agreement on the GERD filling and its operation that considers the interests and concerns of all three nations.

The meeting also addressed Egyptian efforts in counterterrorism, combating extremist ideologies, and promoting the values of human rights, religious tolerance, coexistence, and equal citizenship.

The two sides also spoke about the Russia-Ukraine crisis and its geopolitical and economic repercussions, stressing the need to advance international peace and security.

On a regional level, the Egyptian and US officials also discussed the crises in Sudan, Libya, and Syria, agreeing on the need to find political solutions to various crises, that preserve the unity of nations and their territories.

The American delegation commended Egypt's pivotal and historical role in establishing and reinforcing peace in the Middle East.

El-Sisi reiterated to the American delegation Egypt's longstanding support for a two-state solution to the Israel-Palestine conflict, urging international efforts to achieve a just and comprehensive solution that guarantees the rights of the Palestinian people and the establishment of their independent state in accordance with relevant UN resolutions.

Egypt-US economic ties

According to the American Chamber of Commerce in Egypt, the US stands as Egypt's third-largest trading partner after the UAE and China.

Goods worth $9.4 billion were exchanged in 2022, constituting seven percent of Egypt's total trade for FY 2021/22.

In 2022, Egypt ranked as the US' fifth-largest Middle Eastern trading partner by volume and the largest importer of US goods in Africa.

Egypt represented 4 percent of all MENA exports to the US in 2022 and accounted for 9 percent of the region's US imports.

According to the latest figures from the US Department of Commerce, Egypt closed 2021 as the number one recipient of US direct investment in Africa, and secured the fifth spot in the Middle East, after Israel, the UAE, Qatar, and Saudi Arabia.

The Central Bank of Egypt reports that the United States was Egypt's fifth-largest source of foreign direct investment (FDI) inflows for FY 2021/22, following the UAE, the Netherlands, Italy, and the United Kingdom.

American enterprises injected $1.5 billion, constituting 17 percent of Egypt's total FDI.

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