U.S.-Egyptian trade exchange reaches $8.2B:Cohen

Total U.S.-Egyptian bilateral trade increased over 44 percent to hit $8.2 billion from 2017 through this past November, US ambassador to Cairo, Jonathan Cohen said.

Cohen noted that U.S. goods exports to Egypt recorded $5.2 billion, marking an increase of 30 percent over the past two years, adding that U.S. imports from Egypt hit $3 billion, up by 76 percent in two years.

“U.S. food and agricultural exports to Egypt grew 145 percent from 2017 to 2018,” he noted.

According to Cohen, Egypt is the fourth-largest export market for U.S. goods and services in the Middle East, and the largest market for U.S. goods and services exports on the African continent.

“Equally important, Egyptian agricultural exports to the U.S. reached a record-high two-years in row, in 2018 and 2019,” he stated.

This came during the American Chamber of Commerce meeting in Cairo Tuesday, on “the strategic partnership between the United States and Egypt: opportunities for commercial participation” in the presence of the US ambassador to Cairo, Jonathan Cohen.

For his part, Head of American Chamber of Commerce in Egypt (AmCham) Sherif Kamel said Tuesday that the free trade agreement would support relations between the two countries and allow products to reach the African continent in light of the existence of agreements between Egypt and the countries of the continent in various fields.

He pointed out that one of the most important advantages of Egypt is its important strategic location on the global level, which leads to the consolidation of economic relations.