The United States-Egypt Trade and Investment Council convened in Washington, D.C. on October 29-30 to discuss ways to enhance bilateral trade and investment. This council was established under the 1999 Trade and Investment Framework Agreement (TIFA). The meeting was led by Mr. Bryant Trick, Assistant U.S. Trade Representative, and Mr. Yehya Elwathik Bellah, head of the Egyptian Commercial Service.
U.S. Ambassador to Egypt Herro Mustafa Garg commented on the significance of the meeting: “The recent Trade and Investment Framework Agreement meeting in Washington, D.C. is another example of the strong economic and trade relationship between our two nations.” She highlighted that this meeting is part of a series of high-level dialogues aimed at reinforcing the strategic partnership between the United States and Egypt.
Discussions during the meeting covered various sectors including agriculture, automotive, and technology. The importance of intellectual property protections and labor standards was also emphasized.
In 2023, total bilateral trade in goods between the United States and Egypt amounted to $6.9 billion. Egypt remains a significant destination for U.S. foreign direct investment in Africa with $13.7 billion invested last year. Over 1,000 U.S.-affiliated companies are currently operating in Egypt, reflecting a robust economic partnership that benefits both countries.