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50 US Business, Government Representatives Visit Egypt

50 US Business, Government Representatives Visit Egypt

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A delegation of up to 50 United States representatives from major businesses and government departments completed their visit to Egypt after high-level meetings with Egyptian officials.

The delegation, led by Ambassador David Thorne, the Senior Advisor to the US Secretary of State for economic affairs, met with Egyptian President Abdel Fattah Al-Sisi and a number of other Egyptian officials from the ministries of foreign affairs, finance, telecommunications, oil, and more.

In a statement released by the Egyptian Presidency, President Sisi said that the importance of Egypt’s economic and political relations with the United States was stressed during his meeting. The Egyptian President said he was also looking forward to working with whoever is elected as the new U.S. President.

According to the statement, Egyptian and American officials discussed a number of national projects, such as the development of the Sinai, and other ways to increase U.S. investments and improve Egyptian-American trade ties.

The statement also added that Ambassador Thorne supports Egypt’s recent preliminary deal with the International Monetary Fund for a $US 12 billion loan, which is expected to be achieved within two months.

Despite some tensions following the ouster of former President Mohammed Morsi in July 2013, which resulted in the U.S. partially suspending military aid, there have been attempts in the past year between Cairo and Washington to rebuild bilateral relations.

U.S. investments in Egypt increased to $US 21.3 billion in 2014 from $US 19.3 billion in 2013.

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