50 U.S firms to visit Egypt to explore investment opportunities next Oct.

Omar Mohanna, the head of Egypt – U.S. Business Council, said that the council is currently organising for more than 50 U.S companies to visit Egypt to discuss the investment opportunities and expand in the Egyptian market next October in cooperation with the American Chamber of Commerce.

Mohanna told Amwal Al Ghad that the Egyptian U.S economic relationship are based on achieving maximum benefit from the huge potential of the two countries, referring that the council plan include promoting the investments opportunities available in the local market.

He made these comments on the side lines of the 41th Door-Knocking delegation to the United States started Monday organised by the American Chamber of Commerce and Industry (AmCham) in Cairo.

Egypt’s trade with the United States recorded $5.6 billion in 2017, down from about $4.9 billion in 2016. The volume of the U.S. investments in the Egyptian market registered about $2.1 billion distributed over 1222 projects in various fields.

he added that the meetings between the companies that U.S companies that will visit Cairo and its Egyptian counterparts are being organized along with officials of the national projects such as the new administrative capital , and Suez Canal Axis.

He further noted that there are a number of important files in the delegation’s agenda; the QIZ protocol is first and foremost. Some of the investors in the delegation propose increasing the volume of goods traded within QIZ, as well as adding more companies and regions to benefit from this protocol signed in 2004.

On the level of signing a free trade agreement between Egypt and U.S., many experts believe that it is time to open this file with President Trump, amid expectations of witnessing lengthy negotiations.

Mohanna noted that the U.S-Egyptian relation has witnessed a significant development during the last period that was reflected during the Egyptian president latest visit to Washington,.