Cairo: The Egyptian Commercial Service (ECS) discussed with the U.S. Commercial Counselor to enhance the economic partnership and increase investments between the two countries. Head of the Egyptian Commercial Service (ECS) Minister Plenipotentiary for Commercial Affairs Abdel Aziz El-Sherif met with new Commercial Counselor of the United States in Cairo Mr. Paul Olivia, along with Ms. Jennifer Patterson, responsible for the trade and investment portfolio at the Economic Office of the U.S. Embassy in Cairo. The meeting aimed to follow up on economic, trade, and investment cooperation topics between both countries.
According to State Information Service Egypt, El-Sherif emphasized that the meeting comes at a time when Egyptian-American relations are witnessing growing momentum and noticeable development across various economic and investment fields. He noted the mutual aspiration to capitalize on this momentum to increase trade volumes and boost U.S. investments in the Egyptian market.
He explained that the volume of trade between Egypt and the United States reached $8.6 billion in 2024, including $2.5 billion in Egyptian exports. Trade volume during the first half of the current year amounted to $5.6 billion, compared to $4.9 billion during the same period in 2024 - an increase of 14%. He stressed that significant opportunities exist to expand Egyptian exports to the U.S. market given the strong export capabilities of Egyptian companies in various sectors.
El-Sherif also noted that U.S. investments in Egypt reached $9.44 billion, with an American equity contribution of $2.47 billion as of the end of February 2025. These investments are spread across 2,016 companies operating in sectors such as finance, industry, services, construction, ICT, tourism, and agriculture.
He added that the ECS is currently preparing a comprehensive plan to increase and double trade and investment volumes between the two countries in the coming period. The plan focuses on maximizing the benefits of trade agreements and promoting priority investment opportunities in advanced technology, renewable energy, supply chains, and export-oriented industries. It also aims to strengthen partnerships between the business communities in both countries and attract more U.S. companies to invest in Egypt, benefiting from its strategic location and competitive advantages as a gateway to regional markets.
For his part, Mr. Paul Olivia affirmed that Egypt is an important trading partner for the United States, ranking as the fifth-largest U.S. trading partner in the region. He highlighted the growing interest among U.S. companies in expanding trade and investment in Egypt amid ongoing economic reforms and promising opportunities.