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 Arabic
Press Release
English
Press Releases
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January 30, 2007
Cairo, Egypt-- U.S. Commerce Deputy Secretary David A. Sampson released the following statement today at the conclusion of a series of meetings with Egyptian officials to discuss the growing U.S.-Egypt commercial relationship and how the new U.S.-Egypt Business Council can help advance Egypt’s economic reform process.
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From left: Dr. Ahmed Mahmoud Darwish, Minister of State for Administrative Development; Mr. Ali Awnt, QIZ, Ministry of Trade and Industry; Deputy Secretary of Commerce David Sampson; Ambassador Francis Ricciardone; and Managing Director of Hewlett-Packard Ahmed Samy
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“I have appreciated the opportunity to meet with Government of Egypt officials over the past few days and hear their plans to continue to promote economic growth and reform in Egypt. The United States is committed to its economic and political partnership with Egypt. We have a long history of cooperation in both trade and in peace, and Egypt continues to be a very important partner with the United States on economic and security issues in the Middle East.
Egypt is already well on the road to strengthening its economy. Under President Mubarak and Prime Minister Nazif’s leadership, the government has launched an ambitious reform program. The U.S. encourages Egypt to continue to open and reform its economy to promote peace, hope and opportunity for the Egyptian people.
Peace and opportunity go hand in hand, and our Qualified Industrial Zones (QIZ) program promotes both. We believe in the QIZ program, which provides Egypt special access to the U.S. market, will further Egypt's efforts to liberalize its economy and integrate economically with its regional neighbors and in the global market. Since 2005, thousands of Egyptian jobs have been created under this program. During the first 11 months of 2006, Egypt shipped $583 million in goods through the QIZs, a 119 percent increase. And 22 percent of Egypt’s exports to the United States came from the QIZs.
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U.S.-Egyptian Business Council first meeting
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While in Egypt, I attended the inaugural meeting of the new U.S.-Egypt Business Council (USEBC) with Minister of Trade Rachid M. Rachid. The Business Council is made up of American and Egyptian business executives who meet with senior U.S. and Egyptian government officials to offer their views on private sector development in Egypt and suggest steps Egypt should take to improve its business climate. USEBC can provide a useful forum to discuss new ways to reduce trade barriers and promote bilateral investment.
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Minister of Trade and Industry Rachid meetin with Deputy Secretary Sampson and Ambassador Ricciardone.
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In addition to discussions with Minister Rachid and the Council, I had very productive meetings with the Minister of Finance, the Minister of Transport, the Minister of Health and Population, and the Minister of Communications and Information Technology. During our meetings, we talked about Egypt’s economic reform program and set an action agenda for the Business Council moving forward.”
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