Largest US Business Delegation in 3 Years to Egypt Starts Tomorrow

A U.S. delegation involving more than 150 U.S. executives representing over 60 companies will start a three-day visit to Egypt on Sunday.

According to a statement by U.S. Department of State, the delegation will be led by Senior Advisor to the Secretary Ambassador David Thorne, and will include representatives from the U.S. Export-Import Bank and the U.S. Overseas Private Investment Corporation.

The delegation will meet with senior government officials during their visit to discuss opportunities for U.S. investment in Egypt. This marks Ambassador Thorne’s fourth trip to Egypt in the last nine months, looking forward to productive discussions on ways to support Egypt’s economic initiatives that encourage expanded U.S. trade and investment.

The visit will last three days, starting from Sunday until Tuesday, during which time the delegation will meet Prime Minister Ibrahim Mahlab, as well as other ministers and Egyptian businessmen.

The delegation is the largest to visit the country since the 2011 revolution which toppled the regime of then-president Hosni Mubarak, according to Anis Aclimandos, president of the American Chamber of Commerce in Egypt.

This week’s visit will send a positive message to investors worldwide about foreign interest in the Egyptian market, said Aclimandos, and will indicate that Egypt is a stable country in a volatile region.

The delegation will encompass companies operating in various sectors, notably energy, telecommunications, food, pharmaceuticals, banking, infrastructure and logistics.

Participants will include General Electrical International Inc., Microsoft and IBM in the ICT sector, First Solar International, Noble Energy, and ExxonMobil in the energy sector as well as drug maker Pfizer along with other major corporations operating in additional sectors, the state-news agency MENA reported.