Cairo sets stage for Egypt-US Economic Forum by May-end

Egyptian Prime Minister Moustafa Madbouly chaired a ministerial meeting on Monday to review preparations for the upcoming Egypt-US Forum, which will take place in Cairo at the end of May, the Cabinet said in a statement.

The two-day event, held in partnership with the American Chamber of Commerce in Cairo, is expected to draw strong participation from major US companies. It will showcase investment opportunities across sectors including the Suez Canal Economic Zone (SCZone), while highlighting recent economic reforms and incentive packages.

Prime Minister Madbouly instructed relevant ministries and the Cabinet’s Information and Decision Support Centre (IDSC) to jointly prepare a detailed investment document targeting US firms.

Foreign Minister Badr Abdel-Atty first announced the forum in January, saying it would play a key role in strengthening economic ties with the United States and attracting broader foreign investment. During an event hosted by the British Egyptian Business Association (BEBA) event, Minister Abdel-Atty described the anticipated forum as a “win-win” opportunity for both countries, with potential collaboration across sectors such as renewable energy, infrastructure, education, and technology.

Review of economic reform progress

The meeting also reviewed Egypt’s ongoing economic reform programme with the International Monetary Fund (IMF) and discussed developments in bilateral trade with the US. Investment Minister Hassan El-Khatib said Egyptian non-oil exports to the US made up 5.5 per cent of total non-oil exports in 2024, while US goods accounted for 6.1 per cent of Egypt’s non-oil imports.

New export rebate programme launched

Minister El-Khatib also unveiled a new export rebate programme that will settle 60 billion Egyptian pounds in overdue payments predating July 2023. For the first time, export support payments will be disbursed within 90 days.

Opportunities amid shifting global trade

Planning Minister Rania Al-Mashat noted that Egypt stands to benefit from global trade realignments, particularly in textiles, ready-made garments, and solar panel manufacturing. She stressed the need to diversify trade partnerships and open new export markets.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser