US - Egyption negotiations over free trade

Charlene Barshvisky, the US Trade Representative, is urging the new administration to look into prospects of holding negotiations with Egypt on reaching a free-trade agreement, or at least enter into comprehensive trade talks with Cairo.

He told Middle East News Agency (MENA) that it was expected that the Egyptian-American talks would be more complicated that those Washington had held with Jordan, given the fact that Egypt was a big country in the region.

Barshevisky, the most Senior US Official in charge of trade agreements between Washington and other world countries, stressed the importance that the new American Administration under President-elect George W. Bush should continue contacts with Cairo to see how far Egypt prepared to move towards free trade.

Barshevisky has recently pressed for Egypt and the US reviewing their economic relations to determine the feasibility of concluding new trade agreements.

Also, 71 Senators and Representatives had addressed two messages to President Bill Clinton, urging the start of formal negotiations with Egypt on concluding a free-trade agreement, in view of the security, economic and political importance Egypt represented for the stability of the Middle East region.

Annual trade exchange between Egypt and the US accounts for some $ 3.6 billion, according to 1999 statistics, with American investments in Egypt estimated at $ 3 billion.

Egyptian exports to the US have realized an increase of about 43 percent during the first nine months of 2000, compared to the same period of last year.