Egypt's Trade and Industry Minister Mounir Fakhry Abdel Nour
Cairo - MENA
The US administration has to play an active role in supporting Egypt in its war against terrorism, Industry and Trade Minister Mounir Fakhry Abdel Nour said.
During a meeting with new US Ambassador here Stephen Beecroft on Sunday, Abdel Nour said Egypt-US relations have to get back on track and economic and political ties have to be promoted.
The meeting took up the importance of expanding the scope of cooperation in small and medium sized enterprises, and technical and vocational training as the main fields of the economic development process, the Egyptian minister said.
The talks also addressed the revival of the Generalized System of Preferences (GSP), whose application has been frozen since July 2014 and exempts over 4,300 products of customs tariffs during their export to the US market, he added.
Abdel Nour also reviewed the government's efforts to set an appropriate stage for foreign investments, including the activation of the Egyptian Regulatory Reform and Development Activity (ERRADA), which aims to revise laws regulating investment and combat bureaucracy.
As for Egypt's preparations for the economic conference in Sharm El Sheikh, to be held in mid March, he said major European, American and Arab companies are expected to attend the event along with representatives of governments and international organizations.
For his part, the US envoy said the US is keen to promote bilateral relations with Egypt and expand the scope of cooperation especially in the fields of investment, trade and funding.
Beecroft confirmed that a large number of investors will participate in the economic conference in Sharm El Sheikh to boost their investments in the Egyptian market.
The US and Egypt have identical views on the need to fight terrorism as it does not only threaten the Middle East region but the whole world, he said.