U.S. Trade Representative Ron Kirk and Dr. Mahmoud Eisa, Egyptian minister of industry and foreign trade, adopted a joint statement declaring their intention to promote the U.S.-Egypt Trade and Investment Partnership and provide opportunities for job creation.
The statement notes the United States’ commitment to support Egypt’s economic growth and Egypt’s commitment to enhance the conditions for fostering dynamic economic activity in the months ahead.
The U.S.-Egypt Partnership will be a cornerstone of U.S. efforts to further the goal, announced by President Obama, of constructing a deeper trade and investment partnership with Egypt and other partners in the Middle East and North Africa region, the Office of the U.S. Trade Representative said.
“In the wake of the extraordinary changes under way, as noted in a statement by the White House yesterday, we want to help Egypt empower individuals to make their own economic, as well as political choices,” Kirk said. “Under President Obama’s leadership, we are actively working to broaden and deepen commercial links with Egypt — and other countries in transition — because we are convinced trade and investment liberalization will help drive the economic growth that is so critical to Egypt’s and the region’s future.”
Kirk discussed trade issues with Eisa during the minister’s January 18–19 visit to Washington. The Joint Statement says that U.S. and Egyptian officials will, in the coming weeks, finalize an action plan to realize the individual elements of the partnership.
The action plan will have three main objectives: boosting exports expanding investment, and supporting small- and medium-sized enterprises, with a focus on stimulating job creation.
Individual elements of the program initially could include cooperation in areas such as increasing trade in goods, initiatives to promote investment and services trade, agricultural trade, good regulatory practices, and protecting intellectual property rights and promoting innovation.