Large U.S. delegation to explore Egypt investment opportunities in October

A large, high-profile delegation of U.S. businesspeople will be visiting Egypt within October to explore trade and investment opportunities, Egyptian Minister of Investment Dalia Khorshed announced Sunday.

Khorshed said a large number of representatives from U.S. companies emphasised keenness to boost their investments in Egypt, triggered by growing confidence following the recently-reached loan agreement with the International Monetary Fund (IMF)

U.S. investments in Egypt have retreated during the past year by 85.9 per cent compared to investments made in 2014, the state’s official statistics agency said on Wednesday.

State-run Central Agency for Public Mobilisation and Statistics (CAPMAS) said in a statement in June that Egypt’s imports from the U.S. fell by 11.3 percent in 2015, to reach 33.5 billion Egyptian pounds compared to 37.8 billion pounds in 2014.

The import of grains ranked the highest among imports from the U.S., however the amount imported declined by 56.7 percent in 2015 compared to 2014.

Similarly, Egyptian exports to the U.S. witnessed a decline of 0.8 percent in 2015 compared to the year before.