The United States and Egypt have signed a new economic cooperation agreement under which Washington commits $125 million in funding, which officials described as the first of its kind for the partners.
The U.S. Embassy in Egypt said in a Nov. 4 statement that the Strategic Objective Agreement for Advancing Mutual Prosperity would expand opportunities for American companies in Egypt, as well as drive business growth for both nations.
The agreement will allow the partners to leverage the North African country’s economic advantages, such as its geographic location and its growing markets.
“This agreement will generate significant economic growth in Egypt and expand opportunities for American companies in key sectors in Egypt,” said U.S. Embassy Chargé d’Affaires Robert Silverman during the signing ceremony with Eqyptian Foreign Minister Badr Abdelatty at the Ministry of Foreign Affairs….