US delegation arrives in Cairo to promote economic ties with Egypt

Sunday 23-10-2016 06:53 PM

U.S congress building. Reuters

CAIRO, Oct 23 (Aswat Masriya) - A business delegation from the US headed by Senior Advisor to the Secretary of State Ambassador David Thorne arrived to Cairo on Sunday to promote US-Egypt economic ties, said the US embassy.

The delegation, which will stay in Egypt for three days,  includes representatives from more than 50 US companies who will be meeting with President Abdel Fattah al-Sisi, ministers and other government officials, a statement by the US embassy in Cairo said.

The Central Agency for Public Mobilisation and Statistics (CAPMAS) said in June that  U.S. investments in Egypt have retreated during the past year by 85.9 per cent compared to investments made in 2014.

Even imports from the US fell by 11.3 per cent in 2015, to reach EGP 33.5 billion compared to EGP 37.8 billion in 2014, according to CAPMAS.

Several delegations from the U.S. House and Senate have visited Egypt in the past months to discuss the security conditions and economic development in Egypt.

Egypt-US relations were strained when the U.S. temporarily suspended its military aid to the Middle Eastern country following the army's ouster of former Islamist President Mohamed Mursi in July 2013, after protests against his rule.

The U.S. resumed the aid in March 2015

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