Mubarak reviews economic reform program with American officials
Egypt-USA, Economics, 3/27/2000

President Hosni Mubarak is due to review during his talks with American Administration Officials Egypt's new long term economic reform program.

Minister of Economic and Foreign Trade Youssef Boutros Ghali, Member of the Delegation accompanying President Mubarak, told reporters Sunday the program comprises human resources development and introducing technology in the economy.

The Egyptian leader's main theme in his talks focuses on export, investment and training skilled workers.

He said the talks will also include introducing technology in the economy and attracting investments in this important field.

Dialogue within the framework of Egyptian-American partnership will be carried out on the official and businessmen levels to introduce recommendations and develop bilateral relations.

"American investments in Egypt up to the end of December are estimated at $ 1.9 billion, increased to about $ 2.1 billion in the last three months," he said.

These investments do not include the oil and gas sectors in which investments are estimated by American officials at about $ 15 billion.

Ghali said American investors are interested in mega projects. Several companies in California showed interest in participation in large agricultural projects which involve areas of between 50,000-100,000 feddans.

He discussed with American officials the possibility of opening new American markets for Egyptian exports and that he has already met a number of officials in four companies specialized in marketing textiles, construction materials, foodstuffs and fresh agricultural products.

Talks would also review American Financial Assistance to Egypt, although this issue was no longer important to the two sides .

"Talks between Mubarak and the World Bank Chief tomorrow will center on the banks role in the immediate future, including soft loans introduced by the bank and technical assistance to develop human resources," Ghali said.

Previous Stories:
  Cooperation with American states stressed   (3/25/2000)
  American appreciation for Mubarak's reform efforts   (12/8/1999)
  US ambassador in Cairo: Reducing aid to Egypt forms no problem in relations   (6/19/1999)

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