Egypt Seeks Deeper Industrial, Trade Ties with US Amid Reform Push

Egypt’s Minister of Industry, Khaled Hashem, has reaffirmed the strength of economic relations between Egypt and the United States, highlighting a long-standing strategic partnership spanning multiple sectors.

In his remarks at a high-level meeting with a delegation from the American Chamber of Commerce in Egypt, led by Omar Mohanna, Hashem underscored the government’s commitment to expanding bilateral trade frameworks in the coming period, with a focus on priority goods and industrial products.

The meeting comes ahead of the Chamber’s regular “DoorKnock” mission to Washington, an initiative aimed at enhancing economic cooperation and addressing trade challenges between the two countries.

A key issue raised during discussions was the need to reassess temporary anti-dumping duties imposed on Egyptian rebar exports to the US market. Hashem affirmed that revisiting these measures is critical to improving the competitiveness of Egyptian industrial exports and achieving a more balanced trade relationship.

The minister also pointed to growing investment opportunities for American companies in Egypt, particularly in high-tech infrastructure, including data centers and artificial intelligence-driven industries. Renewable energy projects within Egypt’s expanding industrial zones were also highlighted as key areas for potential collaboration.

Regarding the domestic front, Hashem reiterated the government’s commitment to positioning the private sector as a central partner in industrial development. He revealed that the ministry is currently reviewing the National Strategy for Industrial Development to ensure it aligns with evolving regional and global economic dynamics.

The strategy prioritizes several key industries aimed at boosting Egypt’s global industrial competitiveness.

Among ongoing initiatives, the minister highlighted the “Productive Villages” program, designed to support small enterprises through access to financing and technical training, enabling their integration into broader industrial supply chains.

Looking ahead, Hashem announced plans to introduce a new financing mechanism through industrial investment funds that will allow citizen participation. These funds are intended to channel investments into high-potential industrial projects, with the first expected to be launched in the fourth quarter of the year.