Cairo: Minister of Investment and Foreign Trade Mohamed Farid recently engaged in discussions with Mark Mitchell, the US Deputy Assistant Secretary of Commerce for Middle East and Africa Affairs, alongside a delegation from the US Embassy in Cairo led by Commercial Counselor Paul Oliva. The talks centered on fortifying economic and investment cooperation between Egypt and the United States and identifying new opportunities for US investments in Egypt's burgeoning market.

According to State Information Service Egypt, Minister Farid expressed the ministry's determination to overcome obstacles hindering US investments and to enhance the investment environment. By streamlining procedures for investors, the ministry aims to attract increased US capital and bolster private-sector involvement in Egypt's economic development initiatives.

The discussions also delved into the trade developments between the two nations and the best mechanisms to address these issues. A significant focus was placed on promising investment opportunities, particularly in the sectors of mining and artificial intelligence. The parties explored avenues to attract specialized US mining companies to exploit Egypt's mineral wealth, aiming to maximize local value addition.

The meeting highlighted Egypt's competitive edge as an attractive destination for US investment, emphasizing its strategic location, the availability of skilled human resources, and access to regional markets. Minister Farid reiterated the commitment to transform these investment opportunities into clearly defined and viable projects.

Both sides committed to maintaining open communication and coordination to address trade and investment challenges and to strengthen ties between the relevant authorities and business communities in both countries. Follow-up technical meetings will be organized to advance the discussions and turn the proposed opportunities into tangible investment projects.

The meeting saw participation from the General Authority for Investment and Free Zones (GAFI) and the Ministry of Foreign Affairs from Egypt, while the US delegation included officials from the US Department of Commerce and the US Embassy in Cairo.