Mubarak, US officials probe economic relations
Egypt-USA, Economics, 4/4/2001

"President Mubarak discussed at two meetings with the US Trade Representative and Secretary of Commerce on Monday economic relations between Egypt and the United States," said Minister of Economy and Foreign Trade Youssef Boutros Ghali.

"Mubarak's meeting with the US Trade Representative took up economic relations between the two countries and means to liberalize trade. The two sides agreed to hold further discussions on liberalizing trade," added Ghali.

In statements to reporters in Washington, Ghali said that there are a lot of issues which will be tabled for careful discussion on finding a good base for trade relations between the two countries.

President Mubarak's meeting with the US Secretary of Commerce took up US investments in Egypt, said Ghali, adding that the US Department of Commerce was assigned to contact US businessmen on investing in Egypt.

Ghali said that the volume of the latest US investment process in Egypt was valued at $ 450 million carried out by Apacea Petroleum Egypt.

The Minister pointed out that more US investments were expected in Egypt in the field of petroleum this year.

"The volume of the expected investments is estimated to hit one billion dollars," he added.

Ghali said that the structure of relations between private sectors in the two countries and means to increase investments between Egypt and the United States were also discussed.

On whether there were new frameworks for partnership between the two countries, Ghali said that economic relations between the' two countries already existed, pointing out to new ideas for finding another basis for economic relations, and coping with the new US Administration.

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