Remarks of U.S. Ambassador to Egypt Jonathan R. Cohen
AmCham Egypt hosted signing event
October 21, 2020
Good afternoon dear friends in Cairo, Athens, Nicosia, and Washington. I am so happy to be here with you today.
For decades, the American Chamber of Commerce in Egypt has been the U.S. Embassy’s vital partner in boosting trade and investment between the United States and Egypt. Egypt is the United States’ largest export market on the African continent, and bilateral trade has grown by nearly 76 percent just since 2016. The United States is also the third-largest source of foreign investment in Egypt, and our companies are thriving in critical sectors across this growing economy.
We owe much of our success on economic and commercial issues in Egypt to our outstanding cooperation with the American Chamber of Commerce. I want to thank our friends at AmCham for their long-standing partnership, and of course for including me in today’s event. It is especially nice to be together with old friends from Greece and Cyprus along with my excellent Egyptian partners.
With the signing of this agreement, AmCham Egypt joins forces with AmCham Greece and AmCham Cyprus to promote increased trade and investment among the United States, Egypt, Greece, and Cyprus. The agreement highlights the U.S. private sector’s essential role not just in advancing bilateral commercial ties, but also in supporting deeper economic integration among East Mediterranean countries.
Like you, we believe that a strong and empowered private sector is the best way to generate jobs and to deliver economic growth, development, and prosperity. But we also recognize that the relationships you build every day have a positive impact that goes well beyond economics.
This memorandum, as well as the recent establishment of the East Mediterranean Gas Forum, underscore the private sector’s vital role in deepening international cooperation and promoting regional stability. We applaud your commitment to expanding trade and investment, and to building the people-to-people ties that will inevitably follow, and that are fundamental in the relations between our countries.
And, as always, the U.S. Embassy in Cairo – like our counterparts in Athens and Nicosia – will be with you every step of the way.
Building partnerships and supporting our companies are among the most important aspects of my work as the United States Ambassador in Egypt, as they were when I was Deputy Chief of Mission in Cyprus and Deputy Assistant Secretary for the Eastern Mediterranean.
My team and I will continue to engage the Egyptian government and you, the business community, to shape the business environment – in Egypt and throughout the Eastern Mediterranean – so that it attracts and retains more and more U.S. investment.
America means business in Egypt – and in the Eastern Mediterranean. We have important work ahead of us. These three AmChams are central to success in that regard. We admire and value your spirit, success, and partnership with our Embassies and I look forward to accomplishing our important work together with you.