Acting Director of the U.S. Trade and Development Agency (USTDA), Thomas R. Hardy, visited Egypt on September 23 and 24 to bolster support for U.S. commercial engagement in Egypt's infrastructure development.
During his visit, Hardy signed a grant with ElSewedy Electric S.A.E., an Egyptian energy and electric cable corporation. The grant will evaluate the technical, regulatory, and financial viability of a waste lube oil collection and re-refining network in Egypt. "We are pleased to support this important project that will advance Egypt’s energy development goals," said Acting Director Hardy. "Today’s grant is an excellent example of the types of projects that USTDA supports, one with a strongly committed Egyptian partner who seeks the best of U.S. technology in achieving its objectives." Hardy also met with leaders and members of the American Chamber of Commerce in Egypt to explore collaboration opportunities between U.S. and Egyptian businesses.
Thomas Goldberger, Chargé d’Affaires at the U.S. Embassy in Cairo, stated: "This USTDA visit helps to meet one of our most important objectives at the U.S. Mission to Egypt, to support Egyptian businesses in identifying and using the best of U.S. technology, in order to strengthen economic development and environmental protection."
The USTDA assists companies by exporting U.S. goods and services for priority development projects in emerging economies. Its past successes in Egypt include a vessel traffic management system in the Suez Canal and various petrochemical plants. The agency has also organized events promoting new U.S. commercial opportunities in Egypt such as the 2011 Egypt: Forward conference held in Washington, D.C., which highlighted projects related to energy, transportation, IT, and agribusiness; as well as the MENA Power 2010 conference held in Cairo showcasing regional projects.
Overall, the agency has supported more than 50 public and private sector projects across several sectors including energy, transportation, and IT.