On June 13, 2017, AmCham Egypt Inc. and the U.S. Egypt Business Council hosted a meeting in honor of the visiting members of the Egyptian parliament. The meeting was held at the US Chamber of Commerce headquarters in Washington, DC and aimed at discussing the bilateral relation between both countries, as well as the recent reform measures undertaken by the Egyptian government.
The visit marks the first official visit for Egyptian Parliament members since 2008, where they met with Members of Congress, their counterpart.
The delegation included the following members of Parliament; Tarek Radwan, Deputy Chairman of the Foreign Relations Committee, Karim Salem, Member of the Budget Committee, Saad El Gamal, Chairman of Arab Affairs Committee and Dr. Passant Fahmy, Member of the Economic Affairs Committee. Attending the meeting from the U.S. side were; Steve Lutes, Executive Director of the U.S.-Egypt Business Council, Greg Lebedev Senior Advisor to the President and CEO of the US Chamber of Commerce. Representing AmCham Egypt Inc. was Hisham Fahmy, Chief Executive Officer.
During the meeting, Steve Lutes highlighted the importance of the bilateral relationship between the two countries. He stated: “We remain very committed to improving and deepening the relationship”.
Members of Parliament discussed Egypt’s economic reform agenda, including the recent investment law, which aims at attracting more foreign direct investments into the country, as well as the Value-Added Tax, which was recently introduced as well as other reform measures. The parliamentarians also outlined the Egypt 2030 Vision, which is the government’s framework the country’s inclusive development goals.
Mr. Fahmy, CEO of AmCham Egypt Inc. discussed ways in which business between both countries could flourish, outlining some of the ongoing efforts of AmCham Egypt and AmCham Egypt Inc. to promote investments. Parliament members then discussed how the Parliament may help resolve some of the challenges facing the private sector and the importance of stability to investors.
Greg Lebedev affirmed that a bilateral relationship is mutually beneficial, adding: “we are trying to advance interests, and we look forward to advancing this conversation both here and in Cairo”. He stressed on the importance of holding such meetings as a way to clear misinterpretations and have a better understanding of the environment in Egypt. The Parliamentarians were keen on advancing relations and having regular parliamentary and congressional delegations in Egypt and the U.S.
The meeting took place months following President Sisi’s visit to Washington, paving the way for further constructive dialogue between U.S. and Egyptian leaders, which addresses issues of concern and works on strengthening cooperation between the two countries.