- The Egyptian Trade and Export Development Project (TRADE), funded by the US Agency for International Development (USAID) and the American Chamber of Commerce in Egypt, signed a memorandum of understanding to promote and support economic stimulus. A commercial and investment environment that serves the members and non-members of the Chamber of Commerce, especially to increase the exports of Egyptian small and medium companies to the United States.
- The signing ceremony of the memorandum of understanding was attended today, Thursday, by representatives of the American and Egyptian governments, the Egyptian Trade and Export Development Project (TRADE), and the American Chamber of Commerce in Egypt, a Cairo hotel.
- The American Chamber of Commerce in Cairo held a meeting with US Ambassador Jonathan Cohen and Director of the Egyptian delegation for the US Agency for International Development Leslie Reed, where the meeting reviewed the US Agency’s priorities, strategies, and projects in various fields in Egypt, including issues such as climate change, the coronavirus pandemic, and anti-corruption, as well as on opportunities for private sector participation.
- The memorandum of understanding expresses the intention of the two parties to enhance cooperation, including the establishment of the American Trade Center as an information center and training platform for exports to the United States. The USAID TRADE project will also provide professional knowledge and technical support to members of the American Chamber of Commerce in Egypt in providing export opportunities, particularly to provide export opportunities to the American market, which will lead to establishing contacts and improving members’ export capabilities. American Chamber of Commerce in Egypt In addition, the project will provide assistance to support the ongoing outreach policy of the American Chamber of Commerce in Egypt.
- US Ambassador to Egypt Jonathan Cohen said: “The US government provides various forms of support to the Egyptian government to conduct economic reforms to stimulate trade and investment, and is committed to expanding trade relations between the United States and Egypt. Through this project, the United States aims to help Egyptian small and medium-sized businesses to Increasing exports by 225 million US dollars in the next five years by supporting commercial entities and simplifying customs procedures.
- “The MoU is an affirmation of cooperation and mutual coordination,” added Rachid Benjelloun, Director of the Egyptian Trade and Export Development Project at the US Agency for International Development. It will help strengthen trade relations between Egypt and the United States, increase Egyptian exports, and improve trade. and the investment environment for the benefit of the Egyptian sector.” The entire private enterprise and its various levels.
- President of the American Chamber of Commerce in Egypt, Tarek Tawfiq, expressed his optimism that the American Chamber of Commerce would sign a memorandum of understanding on trade and export development projects at the Ministry of Commerce and the US Agency for International Development in Egypt. He expressed his full belief that their cooperation will strengthen the American Chamber of Commerce in Egypt to support trade with the United States. The efforts of this collaboration will also create links between members, companies and stakeholders, as this is fully in line with the goal of the American Chamber of Commerce in Egypt to expand its services to support and serve its members and even serve the broader and more comprehensive business sector. He added, “Improving the business environment will be a long-term process. It can not only increase Egypt’s exports to the United States, but it can also attract more investment to Egypt.”
- The MoU also aims to improve the trade and investment policy and legislative environment through the various areas of cooperation covered by USAID and the American Chamber of Commerce Program in Egypt, and to assess and formulate obstacles faced by the private sector. joint agreements. Trade policy recommendations and organization of high-level awareness meetings on professional topics.
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