Egypt Investment and Cooperation Minister Sahar Nasr inked on Sunday four cooperation deals with United States Agency for International Development (USAID) Boss Sherry Carlin in various fields, worth $60 million.
The agreements tackled several domains relating to higher education, masters scholarships, scientific research, health care programs, and investments to improve business environment in Egypt.
The Egyptian government is focusing to enhance ties with the American side in different sectors like: renewable and non renewable energy, as well as transportation, according to investment ministry.
On her part, Carlin said that the American side has pumped about $30 billion in development field over the last 40 years.
“Signing such deals affirms US strong commitment to supporting Egypt,” the American official added.
It is worthy to note that, the U.S. is one of Egypt’s largest trade partners. The volume of trade exchange between Egypt and the US increased 26.4 percent to $7.117 billion during 2018 from $5.235 billion pounds during 2017.
Last December, trade between the two countries grew 33.6 percent to $662.111 million against $439.708 million during the same month in 2017, according to Egypt’s state-run statics agency CAPMAS.
In addition, the U.S. ranked the third in terms of being one of the biggest states exporting to Egypt during 2018, capturing 6.7 percent of the Egyptian imports.