Cooperation with American states stressed
Egypt-USA, Economics, 3/25/2000

Foreign Minister Amr Moussa Friday stressed Egypt's interest in cementing ties with American states.

"Egypt is looking forward to build structural and beneficial economic and commercial ties with Northern, Central and Latin American countries," Moussa told the Permanent Council of Organization of American States (OAS).

Egypt has been an observer to the OAS since 1977. "since then Egypt has actively participated in the work of the Organization by inter alia offering technical scholarships and hosting a number of training courses," Moussa told the forum.

The Egyptian top diplomat said that much could be shared between the OAS, the Arab League and the Organization of African Unity (OAU).

"Egypt would be happy to exert all efforts to facilitate a working and coordinated relationship among all three organizations," he said.

In his address to the OAS, Moussa highlighted Egypt's successful economic reform program launched since the early 1990s. He attributed Egyptian economic success to two key factors which he defined as a comprehensive government reform program and an active private sector.

"Recent improvement witnessed by the Egyptian economy are considered to be one of the reform success stories," Moussa added.

Egypt's irreversible path to economic liberalization, he elaborated, consists of four major interrelated tiers,namely maintaining strict fiscal and monetary policy, encouraging private sector ownership, reforming business laws, promoting capital markets and increasing integration in international trade and capital flow.

"These efforts, resulted in reducing the size of the public sector by more than 40 per cent, thus allowing the private sector to account currently for more than 70 per cent of the Egypt's GP," Moussa said.

"Trade between Egypt and Latin America has never exceeded 800 million US dollars, developing our trade relations requires both pragmatic and a realistic approach," he added.

In this regard, he cited a seminar hosted in Egypt this month on "ways and means" to advance economic ties between the two sides.

"The seminar concluded that one of the major obstacles to further develop relations is the lack of information," The top Egyptian diplomat said.

Moussa also recommended updating and creating a legal framework, exchanging visits by officials and members of the business community, enhancing scientific and technological cooperation, and establishing joint business councils.

"Egypt is also keen to develop further its successful economic and trade relations with both Northern American partners in a model that would lead our way and inspire our approach to develop relations with the Latin America and the Caribbean as well as with trade groupings," Moussa stressed.

Taking up the ME peacemaking, Moussa urged negotiations be reenergized through overcoming obstacles and honoring promises and concluding a peace settlement that is comprehensive and rightful to all parties involved.

"In our point of view, this goal could only be achieved through the adherence by parties to the principles of the peace process is based, that is "land-for-peace", the right of the Palestinian people to establish their own state and the withdrawal of the Israeli troops from the occupied territories in southern Lebanon, in the Palestinian territories and the Syrian Golan heights," The top Egyptian diplomat added.

He maintained that achieving peace in the ME would further push our efforts along the path to economic growth and development, he noted that the same goal is pursued by many countries from the Americas.

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