Latest news with #Egypt-US
Egypt Independent
25-03-2025
- Politics
- Egypt Independent
Abdelatty, US Middle East envoy probe joint efforts to release hostages, achieve calm in Gaza
Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and US Special Envoy to the Middle East Steve Witkoff held a phone call on Monday as part of their regular communication to discuss Egypt-US distinguished and strategic relations, and exchange views and assessments as regards developments in the Gaza Strip. The phone call touched on joint efforts made by Egypt, the United States and Qatar to release hostages, achieve calm, de-escalate the situation, as well as consolidate and implement the ceasefire agreement in Gaza, the foreign ministry said in a statement. The two sides emphasized the need to continue working together to achieve security, peace, and stability in the Middle East in a way that ensures that the region is free of conflict and war, as well as to embody the US administration's vision for ending more than 70 years of conflict in the region. Meanwhile, Abdelatty briefed the US official on the comprehensive development process in Egypt under the leadership of President Abdel Fattah al-Sisi, and the numerous achievements made in recent years in light of positive overall indicators of the Egyptian economy, which have been praised by various international institutions, most notably the International Monetary Fund. Meanwhile, Witkoff commended close relations between the two friendly countries, highlighting the important and pivotal role played by Egypt in achieving security, peace, and stability in the region. He also praised Egypt's role, along with Qatar, in trying to hammer out a solution that guarantees the release of hostages and consolidates the ceasefire in Gaza.
Middle East
25-03-2025
- Business
- Middle East
OPEN// Abdelatty, US Middle East envoy probe joint efforts to release hostages, achieve calm in Gaza
CAIRO, March 24 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and US Special Envoy to the Middle East Steve Witkoff held a phone call on Monday as part of their regular communication to discuss Egypt-US distinguished and strategic relations, and exchange views and assessments as regards developments in the Gaza Strip. The phone call touched on joint efforts made by Egypt, the United States and Qatar to release hostages, achieve calm, de-escalate the situation, as well as consolidate and implement the ceasefire agreement in Gaza, the foreign ministry said in a statement. The two sides emphasized the need to continue working together to achieve security, peace, and stability in the Middle East in a way that ensures that the region is free of conflict and war, as well as to embody the US administration's vision for ending more than 70 years of conflict in the region. Meanwhile, Abdelatty briefed the US official on the comprehensive development process in Egypt under the leadership of President Abdel Fattah El Sisi, and the numerous achievements made in recent years in light of positive overall indicators of the Egyptian economy, which have been praised by various international institutions, most notably the International Monetary Fund. Meanwhile, Witkoff commended close relations between the two friendly countries, highlighting the important and pivotal role played by Egypt in achieving security, peace, and stability in the region. He also praised Egypt's role, along with Qatar, in trying to hammer out a solution that guarantees the release of hostages and consolidates the ceasefire in Gaza. (MENA) I S N/M N E
Middle East
07-03-2025
- Politics
- Middle East
OPEN// FM, US envoy to ME discuss Arab plan for early recovery, Gaza reconstruction
CAIRO, March 7 (MENA) - Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty discussed with US special envoy to the Middle East Steve Witkoff over the phone the Arab plan for the early recovery and reconstruction of Gaza. During the phone call, Abdelatty expressed the broad Arab consensus on the plan, a matter that was clearly reflected in the extraordinary Arab Summit hosted by Cairo on Tuesday, March 4. They also took up the Egypt-US strategic partnership and the mutual interests it achieves in various fields and the relentless pursuit of peace and security in the Middle East region. Abdelatty said Egypt looks forward to continue positive and constructive interaction with US President Donald Trump and the US administration, to thoroughly review the Arab plan and its advantages. He also stressed the necessity of continuing joint efforts to implement all stages of the Gaza ceasefire agreement by all parties and allow the unrestricted humanitarian aid access to the Gaza Strip, along with paving the way for Gaza's early recovery and reconstruction and ending the war. For his part, the US envoy said he was briefed on the Arab plan, saying "There's a lot of compelling features to it. We need more discussion about it, but it's a good-faith first step from the Egyptians." (MENA) R R N/
Al-Ahram Weekly
21-02-2025
- Business
- Al-Ahram Weekly
Egypt, US officials finalize arrangements for Investment & Economic Forum - Foreign Affairs
Assistant Foreign Minister for US Affairs Ambassador Sameh Aboul-Enein received a delegation from the US Chamber of Commerce (USCC) on Thursday to discuss final arrangements for the upcoming Egypt-US Investment and Economic Forum. According to the Egyptian foreign ministry, the delegation was led by Anna Burris, Director of the US Chamber of Commerce for the Middle East, and Sylvia Menassa, CEO of the American Chamber of Commerce in Egypt. During the meeting, Aboul-Enein reviewed Egypt-US relations, referencing key outcomes of the second meeting of the Joint Economic Commission. He also touched on the Egypt-US strategic dialogue, which established a working group for cultural and educational cooperation and cooperation in tourism and antiquities. For her part, Burris praised the ongoing progress in the Egyptian economy, highlighting the USCC and the American private sector's strong interest in exploring investment opportunities in Egypt. Furthermore, Aboul-Enein and the delegation discussed enhancing trade and investment ties between Egypt and the US through attracting more significant investments from major US companies in Egypt. The meeting is part of a series of coordination discussions held by Aboul-Enein as per the directives of the Egyptian Minister of Foreign Affairs, Badr Abdelatty. Short link:
Zawya
17-02-2025
- Business
- Zawya
Egypt's Trade Future: Caught Between Trump's Tariff Storm and Opportunity
Egypt's external trade dynamics are currently shaped by a complex mix of exports and imports, influencing its economy. With major exports including agri-food products, cotton, and chemicals, while significant imports include wheat and energy, the trade balance reflects both opportunities and challenges. Yet, trade policies implemented during the Trump administration, particularly the imposition of tariffs, have reverberated through global markets. This raises the question of whether these policies would affect Egypt directly or indirectly. Exploring Egypt's strategic partnerships and adaptability to the changing global trade landscape can provide insight into its ability to navigate these emerging challenges. Egypt-US Trade Dynamics and Trump's Trade Policies Egypt's trade with the US is evolving. From January to November 2024, Egypt's imports from the US were valued at around $6.75 billion, 39.6% higher than about $4.8 billion in the same period of 2023, as mentioned in the Central Agency for Public Mobilization and Statistics' (CAPMAS) monthly bulletin of foreign trade, January 2025 issue. Key US imports included mineral oils, fuels, oilseeds, fruit oils, medicinal plants, animal feed, aircraft, spacecraft, vehicles, machines, and mechanical devices. Meanwhile, Egypt's exports to the US grew by 13.9% year on year (YoY) to $2 billion in the 11-month period of 2024 from $1.8 billion, according to CAPMAS. Recently, President Donald Trump has escalated his trade policies, imposing new tariffs to counter perceived trade imbalances. As of February 4th, a 25% tariff now applies to imports from Canada and Mexico, along with a 10% tariff on Canadian energy resources. Additionally, a 10% tariff on Chinese imports took effect on February 4th as well. On February 13th, Trump ordered the formulation of reciprocal tariffs to match those imposed by other countries on US goods. These recent tariffs have raised concerns about retaliatory measures from affected countries, as well as how these decisions might directly or indirectly impact Egypt. On February 13th, Trump warned that BRICS nations, among which Egypt is a member, could face 100% tariffs from the US if they 'play games with the dollar." His remarks came in response to discussions about the BRICS countries, namely Brazil, Russia, India, and China, establishing their own currency. Impact of Trump's Trade Policies and Sanctions The trade policies of the Trump administration, particularly tariffs, have reverberated through global markets, indirectly influencing Egypt's trade environment. Mohamed Riad, a senior economist, tells Arab Finance: 'US tariffs on other countries like China can create a ripple effect in global trade, impacting countries like Egypt in several ways.' 'Tariffs often make importing certain goods from high-tariff countries more expensive. China, for example, is a major supplier of goods, such as electronics, machinery, and consumer products,' Rias says. 'With higher tariffs, US businesses may seek alternative suppliers. Egypt can potentially benefit from this if it positions itself as a cost-effective substitute for some of the goods previously imported from China or other affected countries,' he explains. Meanwhile, Manal Mamdouh, an economic and international trade expert, elaborates to Arab Finance: 'It is too early to predict the full impact of Trump's trade policies on Egypt. However, these policies could negatively impact the entire world, triggering a cycle of protectionism and anti-protectionism that may set international trade back for a decade. This would affect Egypt and peers.' However, Riad warns that Egypt could face pressure if it engages in trade practices the US deems unfair or violating international agreements. 'Egypt's ongoing efforts to diversify its foreign relations, with China, the EU, and African nations, help buffer against potential isolation from any one economic partner,' he adds. On the other hand, rising US protectionism could present challenges for Egypt. To illustrate this point, Mamdouh says, 'Egypt is highly active in environment and climate change initiatives. It hosted COP27 in Sharm El-Sheikh from November 6th to 18th, 2022.' 'One of Egypt's top priorities is to transition to a green economy by adopting its practices and business models as well as new clean energy. This shift depends heavily on importing advanced technology. So, international trade tensions sparked by Trump's policies could disrupt Egypt's current and future green transition plans,' she clarifies. Mamdouh further emphasizes that geopolitics affect energy and gold markets. 'Securing Egypt's energy needs could face different challenges due to critical regional circumstances. What happens when other development plans requiring advanced technologies face similar difficulties? This is a simple question that needs to be addressed,' she points out. Adapting to Global Trade Dynamics Yet, Egypt can mitigate the risks of sanctions and tariffs by strengthening partnerships and diversifying its global economic relations. Riad suggests the need to look beyond the US, stating, 'Egypt should boost ties with the EU, Africa, and Asia, particularly China and India, to create alternative trade options.' 'Trade agreements like the Africa Continental Free Trade Area (AfCFTA) can give Egypt access to a larger market within the continent. Egypt can also solidify its role in regional organizations, such as the Arab League, the African Union, and the Middle East's economic forums,' as per Riad. 'By fostering intra-regional trade, Egypt can cushion itself against external sanctions or tariffs, ensuring that regional economic cooperation serves as a buffer,' Riad notes. The changing global trade dynamics, led by Trumps decisions, require Egypt to adapt. According to Mamdouh, 'The key is economic strength by learning from previous global economic crises, reinforcing domestic economic structure, and building institutions based on accountability and transparency.' Mamdouh adds. Despite the challenges posed by the US trade policies under President Trump, Egypt's trade dynamics are evolving. As Egypt's trade relationship with the US has seen growth in both imports and exports, tariffs and rising protectionism present challenges and opportunities for the future.
