According to the joint statement issued by the governments of the US and Egypt about the meetings, the JEC reflected the shared vision of both nations to promote investment opportunities and strengthen economic ties.

During the two-day event, the delegations reaffirmed their dedication to deepening economic and commercial ties.

Discussions centred on economic reform, the role of the robust private sector in driving dynamic growth, and opportunities for collaboration in digital transformation and energy security.

The sessions also explored increasing investment and expanding economic opportunities for both countries.

According to the joint statement, this round of JEC talks discussed cooperative economic initiatives, including the bilateral Investment Incentive Agreement (including taxation and regulatory treatment), which would unleash investment from the US Development Finance Corporation.

The talks also included the US Trade and Development Agency’s Methane Abatement Action Plan grant to promote shared climate goals and the US Federal Motor Vehicle Safety Standards set to transform Egypt into a regional automobile export hub.

US-Egyptian delegations
 

As part of the proceedings, US-Egyptian delegations participated in a government-private sector dialogue, covering topics such as AI, digital transformation, energy, infrastructure, and manufacturing, focusing on the private sector's role in economic growth.

Ambassador Geoffrey Pyatt, Assistant Secretary of State for Energy Resources, US Department of State, one of the attendees, stated on X (formerly Twitter) that the discussions included the future of Egypt as a clean hydrogen and renewable power exporter in addition to playing a key player in helping advance Gaza’s future energy security.

The delegations agreed to follow up through diplomatic channels to ensure swift implementation of the commitments made during the meetings.

The US delegation was led by Jose W. Fernandez, US Under Secretary of State for Economic Growth, Energy, and the Environment, while Ambassador Dr Sameh Aboul-Enein, Assistant Foreign Minister for US Affairs, headed the Egyptian delegation.

The US ambassador to Cairo Herro Mustafa Garg and Egypt's ambassador to Washington, D.C., Motaz Zahran attended the meetings.

The delegations committed to holding bilateral Trade and Investment Framework Agreement talks in Washington, D.C., in October 2024.

Both parties agreed to continue convening the JEC annually, with the third round scheduled to run in Egypt in 2025.

The JEC, first announced during the US-Egypt Strategic Dialogue in November 2021, aims to enhance bilateral economic cooperation, and its inaugural session was held in May 2023 in Cairo, Egypt.

According to the US State Department, most American firms' activities lie in oil and gas exploration and production sectors, the hospitality industry, and the telecommunications and information technology industry.

Additionally, the US foreign direct investments (FDI) in Egypt hit $12.7 billion in 2022, an 8.6 percent increase compared to 2021, according to the Office of the United States Trade Representative.