$2.3 billion in U.S. investments in Egypt

The volume of U.S. investments in Egypt reached $2.3 billion, in addition to $600 million in investments in the bond field.

A statement issued by the Egyptian Economy Ministry said on the occasion of President Mubarak's visit to the USA that there are many agreements organizing commercial relations between the two countries which ban double taxation, guarantee protection of investments, textile trade, support trade and investment incentives.

He added that annual U.S. aid is $775 million instead of $815 million in the frame of the government's plan to decrease foreign aid over the next 10 years.