Egypt, US to discuss TIFA agreement on Oct – envoy

Egypt and the United States will hold discussions under the auspices of the Trade and Investment Framework Agreement (TIFA) by the end of next October, said US Ambassador to Egypt Herro Mustafa on Tuesday.

The US ambassador emphasised the importance of these talks for addressing recent developments in the agreement and strengthening bilateral trade and economic relationships. Egypt and the United States signed the TIFA agreement on 1 July, 1999.

Herro made her remarks during the first annual forum held in Cairo on export potential, organised by the General Organisation for Export and Import Control (GOEIC) under the auspices of the Egyptian Ministry of Investment and Foreign Trade.

In addition to the TEFA discussions, Herro said the US and Egypt will collaborate on establishing standards for the automotive industry.

The US ambassador expressed her country’s commitment to facilitating trade with Egypt and creating a favourable environment for economic cooperation.

TIFA is aimed to boost bilateral trade, pave the way for a future free trade agreement, and foster collaboration in various sectors.

The pact encompassed a wide range of agreements, including those focused on economic development, scientific research, technological advancement, and environmental protection. Notably, the agreement addressed the development of small and medium-sized enterprises, environmental regulations, commercial laws, and education.

To ensure effective implementation, Egypt and the US formed three key committees: the Egyptian-American Presidential Council, the Joint Economic Commission (JEC), and the US-Egypt Science and Technology Joint Fund. These committees played a crucial role in overseeing the partnership and guiding its progress.

Attribution: Amwal Al Ghad Arabic

Subediting: M. S. Salama