Egypt is nearing the signing of a free trade agreement with the United States

The U.S. Administration expressed support to Egypt's government financial reform according to President Mubarak's plan to cut down on the deficit in the budget and lowering Egypt's foreign debts.

David linger an official at the treasury department said the economic growth which is expected to reach 6 percent next year will help lower the deficit in the budget in the long run.

He also said that customs duties reform and the free exchange rate as well as the new tariffs cut introduced by Egypt will give a strong push to the economic development in Egypt.

"Such reforms will make Egypt nears the signing of free trade agreement with United States, "Robert Zoellick U.S Assistant Secretary of State said.