Largest Chamber-led Delegation Identifies Economic Opportunities
WASHINGTON, D.C.—The U.S. Chamber of Commerce this week led a business delegation to Cairo, Egypt, to identify economic opportunities in the country and areas for increased engagement between the U.S. and Egyptian business communities. With more than 150 business executives from nearly 70 companies participating, the group was the largest Chamber-led delegation in recent history, underscoring the U.S. business community’s interest and optimism in the Egyptian market.
“We believe Egypt is open for business and view this trip as a chance to further explore the tremendous opportunities available for U.S. companies operating there,” said Greg Lebedev, senior member of the U.S. Chamber Board of Directors. “Throughout Egypt’s transition, we have remained confident in its economic potential and are committed to expanding our commercial ties with the country.”
In meetings with public- and private-sector leaders, including Egyptian President Abdel Fattah el-Sisi, the delegation also promoted a number of fiscal, labor, legal, tax, and regulatory reforms that could improve Egypt’s business environment and create a more dynamic Egyptian economy.
“We are optimistic about the future of the U.S.-Egypt bilateral relationship and are encouraged by the Egyptian government’s willingness to take steps necessary to attract investment and increase trade,” said Khush Choksy, vice president for Middle East Affairs at the U.S. Chamber. “It’s clear that by expanding our economic cooperation and commercial engagement, we can further cultivate a relationship that is beneficial for businesses in both the U.S. and Egypt.”
Delegation leaders included Lebedev; Choksy; G. Steven Farris, chairman of the U.S. Chamber’s U.S.-Egypt Business Council and chairman, CEO, and president of the Apache Corporation; and Ambassador David Thorne, senior advisor to the U.S. Secretary of State.
The U.S.-Egypt Business Council is an advocacy organization representing U.S. companies doing business with Egypt and the only American organization dedicated solely to strengthening the countries’ bilateral economic relationship.
International trade and investment is a key component of the Chamber’s 2014 American Jobs, Growth, and Opportunity Agenda, an ambitious plan to generate stronger economic growth, create jobs, and expand opportunity for all Americans.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 50 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 116 American Chambers of Commerce abroad.
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