Egypt calls for opening more US markets before Egyptian products
Egypt-USA, Economics, 3/5/2002

Egyptian Minister of Foreign Trade Youssef Boutros Ghali said that Egypt called for opening more new markets before the Egyptian products, especially fruits, vegetables, construction materials, ceramics, marble and granite.

In statements after President Hosni Mubarak's meeting with Secretary of Commerce Donald Evans, Ghali said that Egypt also called on the United States to grant it more privileges in customs tariff to compete west Europe, Spain and Italy.

He said that the American side hs accepted the Egyptian proposals positively.

On the reason behind the increase of deficit in the Egyptian trade balance for 2001, Ghali said that there are some items in the voucher of the Egyptian imports that caused the deficit.

He said that the Egyptian exports increased by 1 percent at a time when the American exports decreased by 7 percent, which means that Egypt took a quota from the countries whose exports to the US decreased.

Ghali said the biggest part of increasing the Egyptian exports was attributed to oil exports.

The American investments in Egypt increased in 2000 by 500 million dollars, he said, pointing out that the total American investments in Egypt stood at 2.7 billion dollars, which made the united states the second biggest country investing in Egypt.

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