U.S., Egypt Discuss Bilateral Trade Tries in Recent Meeting
U.S. and Egyptian officials met in Cairo Dec. 5 under a trade and investment framework agreement to find ways to “further expand fair and reciprocal trade and investment between the two countries,” the Office of the U.S. Trade Representative reports. The U.S. exported $3.5 billion worth of goods to Egypt in 2016 and had a sizable $2 billion bilateral trade surplus in goods that year. At $1.5 billion, U.S. goods imports from Egypt are dominated by apparel, mineral fuels, carpets, and art and antiques.
According to a USTR press release, the U.S. used the meeting to update Egypt on the Trump administration’s priorities on trade, including opening markets and enforcing trade rules. U.S. officials also highlighted the importance of deepening ties with countries in the Middle East and Europe, including Egypt. During the meeting, U.S. and Egyptian officials agreed to work together to address outstanding bilateral trade issues, including those related to market access, standards, labor, and intellectual property protection. They also agreed to devise new ways to promote trade between the two nations.