Chairman of the American Chamber of Commerce in Egypt and head of the mission Omar Mehanna said that measures taken by the Egyptian government to mitigate the negative impacts of regional tensions, including the wars in Gaza and tensions involving Iran, were met with appreciation and praise by US officials.
In statements, Mehanna said the US side also valued Egypt’s foreign policy and its efforts, which contributed to reaching an agreement to halt the war in Gaza and enhance regional stability.
The 43rd edition of the “DoorKnock Mission,” organized by the American Chamber of Commerce in Egypt, concluded its activities in Washington, D.C.
The delegation held a total of 43 meetings, including six with the US Administration, six with think tanks, 20 with members of Congress and their offices, two with international institutions, and nine additional engagements such as breakfast sessions, receptions, and dinners.
Mehanna, who is leading the mission, said that the US side stressed the importance of the strategic relationship between Egypt and the United States.
He pointed out that Egypt currently has a favorable opportunity to attract more foreign investments, including from the United States, thanks to its political stability and economic reforms.
Mehanna added that discussions between the delegation and officials from the US administration, Congress, the International Monetary Fund, the World Bank, and American think tanks addressed adverse developments stemming from regional tensions, as well as Egypt’s efforts to improve the investment climate and ensure monetary stability.
He noted that a positive impression prevailed regarding the performance of Egypt’s ministerial economic group during the recent meetings of the IMF and the World Bank, particularly concerning monetary policy measures and the increase in foreign exchange reserves.
“The Central Bank of Egypt (CBE) succeeded in absorbing shocks caused by unfavorable regional developments and implemented a flexible exchange rate policy,” the Chairman of the American Chamber said.
Mehanna further said that IMF experts positively assessed Egypt’s steps in reforming the state budget and achieving an unexpected primary surplus, thanks to subsidy reforms and improvements in fiscal and tax policies. The IMF also praised reforms related to resource mobilization, tax packages, customs facilitation, and maintaining exchange rate flexibility.
He pointed to prevailing uncertainty in the global economic landscape due to ongoing tensions between Iran and the United States, noting that such crises could create favorable economic opportunities for other parties.
Mehanna revealed that the delegation held talks with the US International Development Finance Corporation (DFC), the investment arm of the US government, which has increased its budget to $205 billion and works to mobilize private capital to advance US foreign policy and economic development cooperation.
He explained that the private sector can submit project proposals to obtain DFC financing, which would strengthen such projects and enhance their creditworthiness.
“The American Chamber of Commerce in Egypt has decided to launch a dedicated youth program, led by a distinguished Egyptian university student in Washington,” Mehannas said.
He added that the initiative aims to serve as a platform for skill-building activities among outstanding Egyptian university students, connect them in the United States and with their home country, and organize engagements with the Chamber’s 25 committees in Cairo, as well as cooperation with the Washington Chamber to showcase success stories and offer training opportunities.
For his part, former chairman of the American Chamber of Commerce in Egypt, Tarek Tawfik, underscored the importance of the youth initiative, noting that thousands of Egyptian students study abroad, including many in the United States.
He said such an initiative would strengthen ties among young Egyptians and foster initiatives that enhance Egyptian interests and Egyptian-American networks, benefiting both sides.
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