Latest news with #HerroMustafaGarg
Egypt Today
25-05-2025
- Business
- Egypt Today
Egypt, U.S. Finalize Customs Agreement Amid Growing Trade Ties
CAIRO – 25 May 2025: Egypt and the United States are on the verge of signing a bilateral agreement aimed at regulating customs procedures between the two nations. The announcement was made during the Egypt-U.S. Economic Forum held today in Cairo, where senior officials from both governments confirmed that negotiations have reached an advanced and final stage. Prime Minister Mostafa Madbouly stated that the agreement is expected to come into effect soon, noting its strategic significance in streamlining trade operations and improving the clarity and efficiency of customs handling between Egypt and the U.S. Echoing this, U.S. Ambassador Herro Mustafa Garg confirmed that both sides are preparing to sign the agreement shortly, calling it a milestone in enhancing bilateral economic collaboration. This development follows trade tensions in April of last year, when former U.S. President Donald Trump imposed a ten percent tariff on Egyptian exports as part of a broader initiative dubbed 'Liberation Day,' which included duties on several of the United States' key trading partners. However, those tariffs were suspended for 90 days following intense global negotiations. According to data from Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS), total bilateral trade between Egypt and the U.S. reached nearly $9.8 billion in the past year—representing a thirty-seven point four percent increase over the previous year. Egypt's exports to the U.S. stood at approximately $2.2 billion, while imports from the U.S. totaled $7.6 billion, underscoring a significant trade imbalance. The new customs agreement is seen as a vital step toward improving the terms of trade, promoting smoother logistics, and encouraging more balanced economic ties between the two countries.
See - Sada Elbalad
29-04-2025
- Business
- See - Sada Elbalad
US & Egypt Expand Commercial Ties with Landmark Partnership Between Dawah Pharmaceuticals & Gypto Pharma
Rana Atef US Ambassador to Egypt Herro Mustafa Garg joined His Excellency Prime Minister Dr. Mostafa Madbouly, Minister of Investment and Foreign Trade Engineer Hassan Al-Khatib, and Minister of Planning, Economic Development, and International Cooperation Dr. Rania Al-Mashat, at a signing ceremony between American company Dawah Pharmaceuticals and Egyptian company Gypto Pharma. The agreement between Dawah Pharmaceuticals, a leader in critical therapies, and Gypto Pharma, a regional pharmaceutical hub, will establish new pharmaceutical manufacturing facilities in Egypt, utilizing cutting-edge American technology. This agreement demonstrates how American expertise can transform Egypt's pharmaceutical industry. The agreement includes an initiative aimed at meeting Egyptian market demand and expanding export opportunities to key markets, including the United States, Europe, Africa, and the MENA region, benefiting both the Egyptian and U.S. economies. The agreement benefits both the United States and Egypt as it will increase American exports to Egypt and establish new pharmaceutical manufacturing facilities in Egypt. In turn, Ambassador Mustafa Garg emphasized the significance of the agreement, stating, 'The critical element of this landmark agreement between Dawah Pharmaceuticals and Gypto Pharma is the supply of state-of-the art U.S. machinery, equipment, and technologies along with the know-how and expertise to expand the reach of Egyptian pharmaceutical production throughout Africa and the Middle East. This partnership showcases the strength of our bilateral economic relationship and the shared prosperity it brings to both Egypt and the United States.' The deal between Dawah Pharmaceuticals and Gypto Pharma is expected to create jobs and stimulate trade and investment in both Egypt and the United States with initial plans by Gypto to build a biosimilar manufacturing plant and a bioequivalence testing facility in New Jersey. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
See - Sada Elbalad
29-04-2025
- Business
- See - Sada Elbalad
U.S. and Egyptian Governments Promote Business Opportunities for U.S. Companies in Egyptian Port and Logistics Sectors
Basant Ahmed U.S. Ambassador Herro Mustafa Garg joined Egypt's Deputy Prime Minister for Industrial Development and Minister of Transport and Industry Lieutenant General Engineer Kamel Al-Wazir, and Minister of Investment and Foreign Trade Engineer Hassan El Khatib on a virtual briefing with U.S. companies to showcase the growing trade and investment opportunities in Egypt's port and logistics sector. Ambassador Mustafa Garg, Deputy Prime Minister Al-Wazir, and Minister El Khatib highlighted Egypt's strategic position as the crossroads of Africa and the Middle East and its transformation into a global logistics hub. The event drew interest from a broad range of U.S. firms, reflecting the strong commercial ties between the United States and Egypt and a shared commitment to fostering sustainable economic growth and shared economic prosperity. Ambassador Herro Mustafa Garg underscored the importance of continued U.S.-Egypt economic partnership saying, 'Collaboration between the United States and Egypt is essential not only for enhancing economic opportunity but also for advancing mutual prosperity. We value our partnership and look forward to increased U.S. company participation in this vital sector.' Minister El Khatib offered insights into the Egyptian government's strategy to improve the business climate and attract foreign investment, while Deputy Prime Minister Al-Wazir outlined concrete ways American companies could contribute to the development and modernization of Egypt's transport and logistics network. The United States remains committed to deepening its economic partnership with Egypt and continuing close cooperation to support the prosperity and long-term growth of both nations. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
See - Sada Elbalad
24-04-2025
- Business
- See - Sada Elbalad
U.S. Delegation Celebrates Launch of African Space Agency, Promotes U.S.-Egypt Cooperation During NewSpace Africa Conference
Yara Sameh U.S. Ambassador to Egypt Herro Mustafa Garg, U.S. Ambassador to the African Union Stephanie Sullivan, NASA Associate Administrator Karen Feldstein, Deputy Assistant Secretary of the National Oceanic and Atmospheric Administration Juan Caro, Brigadier General Jacob Middleton, and other U.S. government officials attended the inauguration of the African Space Agency, highlighting the United States' whole-of-government approach to deepening cooperation in space with Egyptian and African partners. U.S. Ambassador Herro Mustafa Garg and U.S. delegation members also participated in the NewSpace Africa Conference held at the Egyptian Space Agency organized by Space in Africa. The event brought together over 500 delegates from 65 countries – including heads of African space agencies and representatives from international governments. During the conference, Ambassador Mustafa Garg partnered with representatives from U.S. private sector companies including Princeton Satellite Systems, Maxar Intelligence, HawkEye 360, Astranis, Cisco, Viasat, Slingshot Aerospace, and Hayes Group International to showcase U.S. excellence in space and advance shared objectives in Egypt and across the continent. Ambassador Mustafa Garg also visited the U.S. pavilion in the conference exhibition hall, where U.S. exhibitors celebrated the expanding collaboration between the United States and Egypt in commercial space innovation. 'You are all innovators and are demonstrating that the United States is the global leader in space,' Ambassador Mustafa Garg stated during her visit. 'Egypt has developed an ambitious plan to grow its space industry, and the U.S. Embassy is ready to support your efforts. When the U.S. government, U.S. companies, and Egypt work together, we promote shared prosperity and embrace our limitless potential.' On Wednesday, Ambassador Mustafa Garg hosted a press conference at the U.S. Embassy with representatives from participating U.S. aerospace companies and members of the media. Ambassador Mustafa Garg and private sector representatives highlighted opportunities for bilateral cooperation and mutual benefit in the growing space sector. As part of the U.S. presence at the conference and launch events, the U.S. Embassy in Cairo also arranged for the CEO of the U.S. Space and Rocket Center, Dr. Kimberly Robinson, to engage audiences in Alexandria, Cairo, and Ain Sokhna — including at Bibliothèque Alexandrina, Galala University, and with NASA Space Apps Challenge Egyptian alumni. With more than 30 years of experience with NASA, Dr. Robinson underscored U.S. excellence in space innovation and emphasized the U.S. desire to collaborate with Egyptian and African partners. Demonstrating the United States' commitment to African space partnerships, the U.S. government presence at the conference included high-level delegates from the U.S. Department of State, the U.S. Department of Commerce, the National Aeronautics and Space Administration (NASA), the National Oceanic and Atmospheric Administration (NOAA), and the U.S. Space Forces Europe and Africa. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Zawya
11-04-2025
- Business
- Zawya
Egypt signs $235mln contracts with US's PRL to modernize 100 locomotives
Arab Finance: Egypt's National Railways Authority signs three contracts with American company Progress Rail (PRL) to modernize 100 Henschel locomotives, supply spare parts for 141 units over 15 years, and provide technical support for 10 years, as per a statement. As part of a $235 million agreement witnessed by US Ambassador to Cairo Herro Mustafa Garg, the deal falls under Egypt's wider plan to upgrade its railway fleet and improve service quality for passengers and freight clients. The project is also expected to boost the availability and reliability of locomotives while cutting fuel consumption and emissions. Deputy Prime Minister and Minister of Industry and Transport Kamel El-Wazir said the contracts align with the Ministry's strategy to enhance the traction system and expand the share of freight transported by rail, helping ease pressure on road networks and increase railway revenues. The modernization program will see the installation of all-new locomotive components, including a new engine, EM2000 control system, electrical cabinet, air compressor, air brake system, and cooling system. Remaining major components will be overhauled using newly supplied spare parts. El-Wazir highlighted the operational benefits of the upgrades, noting a 50% cut in oil consumption and over 3% improvement in fuel efficiency, driven by new engine technology. He added that the move would also help reduce spare parts inventory by phasing out discontinued components and aligning with Egypt's EMD (JT42CWRM) fleet. The contract also supports Egypt's localization efforts. Overhauls of key reused parts—such as traction motors and main generators—will be carried out by the Egyptian Company for Railway Maintenance and Services (ERMAS), a subsidiary of the National Railways Authority. This will involve using some local components and transferring expertise under Progress Rail's supervision. El-Wazir noted that with the latest contract, Egypt has now added 210 new locomotives to its network. Meanwhile, 99 locomotives from the existing fleet have been rehabilitated in collaboration with major international companies. These upgrades come alongside routine maintenance of operational units, all within the framework of the Ministry's ongoing rail system overhaul. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
