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Egypt Affirms Importance of Strategic Ties With the US

Egypt Affirms Importance of Strategic Ties With the US

Tuesday, 17 May, 2022 - 08:45
The delegation of GreenTech Business Mission to Egypt (Environment Ministry

Egypt’s Prime Minister Mostafa Madbouly affirmed on Monday the keenness to strengthen strategic ties in various fields with the United States, noting that the US is considered one of the most important trading partners for Egypt.

The PM’s comments came during a meeting organized by the American Chamber of Commerce in Egypt and the US Chamber of Commerce. The meeting was held within the framework of a visit by the GreenTech Business delegation to Egypt, a high-level delegation of US government and company representatives exploring energy opportunities in the country.

During the meeting, Madbouly said that the US supports the private sector and the efforts to promote the business environment in Egypt.

He added that Egypt seeks to stimulate its economic growth and increase its GDP, despite the challenges posed by the COVID-19 pandemic and the Russian-Ukraine conflict.

The PM noted that Egypt’s hosting of the forthcoming Conference of the Parties (COP27) Climate Summit in Sharm el-Sheikh next November reflects the country’s clear realization of the importance of global efforts on climate change.

He added that his country seeks to encourage investment in green energy projects.

For his part, Marty Durbin, president of the US Chamber of Commerce's Global Energy Institute (GEI) said GreenTech Business Mission to Egypt is meant to support Egypt as it gears up to host COP27.

The US delegation is visiting Egypt as the host country of COP27 to identify the opportunities for Egyptian-US partnership for climate change cooperation.

The delegation also met with Egypt’s Environment Minister Yasmine Fouad, who said that the meeting also tackled mechanisms of collective action to confront the effects of climate change and accelerate the pace of climate action.

She added that the two sides discussed the incentives required to encourage the participation of the private sector in green projects.

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