Egypt's FM Shoukry receives AmCham delegation ahead of door-knock mission to US

Ahram Online , Saturday 24 Feb 2018

File Photo: Egypt FM Sameh Shoukry (Reuters)

Egypt's foreign minister Sameh Shoukry received on Saturday a delegation from the American Chamber of Commerce in Egypt (AmCham) as part of preparations for an upcoming door-knock mission, according to a statement by Egypt's foreign ministry spokesman Ahmed Abu Zeid.

Minister Shoukry answered queries by the delegation over different aspects of Egyptian-American relations, including the outcomes of recent visits by top US officials, including Vice President Mike Pence and US Secretary of State Rex Tillerson.

Shoukry also discussed Egypt's position on various regional and international issues, which Abu Zeid described as being of common interest for both countries.

"The foreign minister is keen on receiving the AmCham delegation every year ahead of his yearly visit to the US for a door-knock mission… to discuss boosting and supporting cooperation between Egypt and the US and upgrade trade and investment exchange to serve both countries' interests," the statement said.

The AmCham delegation expressed their keenness to boost cooperation between Egypt and the US, reflecting the private and strategic relationship between them in the economy, trade, and investment cooperation.

According to the AmCham in Egypt, the stock of US direct investment in Egypt stood at $22.6 billion in 2016, representing 35.4 percent of US direct investment in Africa and 46.2 percent of US direct investment in the Middle East.

As of 2016, Egypt became the third largest recipient of US foreign assistance in the world and the second largest in the MENA region after Israel, according to statistics from April 2017.

According to the US Department of Commerce, in 2016 Egypt was the largest recipient of US direct investment in Africa, and second in the Middle East after the United Arab Emirates. The stock of US direct investment in Egypt stood at $22.6 billion as of 2016.

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