BREAKING NEWS

US, Egypt discuss ways to expand trade

By REUTERS

OCTOBER 25, 2011 01:13

WASHINGTON - The United States is eager to expand trade with Egypt to help the world's most populous Arab country complete its transition to democracy, a top US trade official said on Monday.

"The United States greatly values its economic relationship with Egypt, which is a key strategic partner," Deputy US Trade Representative Miriam Sapiro said in a statement after a meeting near in Jordan with Egyptian Minister of Industry and Trade Mahmoud Eisa.

"With this first high-level meeting with Minister Eisa, we are advancing our work together to overcome obstacles to increased trade and investment and to pursue actions to improve regional economic integration," Sapiro said.

Eisa will visit Washington next month for further talks, said Sapiro, who has played a key role in shaping the US economic response to the events of the "Arab Spring."

Two-way goods trade between the United States and Egypt increased more than 30 percent in 2010 to $9.1 billion, while US investment in Egypt rose 28.4 percent to $11.7 billion.

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