A limited group comprising members of the Egypt-U.S. Business Council (EUSBC) together with Board members of AmCham Egypt will be visiting Washington D.C. during the period from September 26th-30th. The visit immediately follows President Al Sisi’s visit to New York, where he participated at the 71st United Nations General Assembly and was hosted for a business roundtable by the U.S. Chamber in coordination with AmCham Egypt and the Egypt U.S. Business Council on September 21st. It also comes at a significant period where Egypt is moving in steadily towards closing a $12 billion deal with the IMF to support the government’s economic reform program within the coming few weeks.
The delegation is scheduled to meet with senior Administration officials, think tanks, media and leaders from the U.S. business community. They will share their perspective on economic reform measures, share their insights on existing challenges and ways in which these can be overcome. They will also express their endorsement of some measures undertaken by the government of Egypt recently to reduce public debt, mainly through the introduction of the long awaited Value Added Tax (VAT) as well as other measures. The delegation will share its general support for Egypt’s signing of the IMF deal scheduled to take place in a few weeks, which aims to improve the functioning of the foreign exchange markets, bring down budget deficit and debt, and raise growth.
This delegation includes high level representation from business community leaders representing a wide range of sectors, offering an expert opinion on the stature of the bilateral economic relationship between Egypt and the United States.