Over 55 American companies participated in the forum to explore Egypt’s investment opportunities.Senior Egyptian and US officials reaffirmed their strategic relationship during this landmark event, highlighting closer cooperation on trade, investment, and regional diplomacy amid rising geopolitical tensions.
Ahram Online interviewed Steve Lutes, Executive Director for Middle East Affairs at the US Chamber of Commerce, to shed light on the key outcomes of the forum and the impressions the US business community brought back regarding the investment climate and doing business in Egypt.
Ahram Online (AO): Please brief us on the key outcomes of the successful Policy Leaders Forum in Cairo.
Steve Lutes (SL): I want first to convey that we are honoured to be in Egypt at the invitation of H.E. President Sisi, with Suzanne Clark, President and CEO of the US Chamber, in partnership with John Christmann, CEO of Apache and Chairman of the US-Egypt Business Council, leading a large delegation of business leaders that reflects the diversity of our bilateral economic relationship. Stepping back and looking at the forum through a broader lens, our visit—carried out in cooperation with our friends at AmCham Egypt—sends an important message that the US Chamber and our member companies continue to stand with our Egyptian partners in both government and business, and remain committed to Egypt’s economic future at a time when the country faces ongoing economic and geopolitical challenges. Sending this signal of continued determination to work in partnership with Egyptian leaders to increase trade and investment was perhaps the most valuable outcome.
With everyone so busy, the forum brought leaders from American business together with top Egyptian officials and businesspeople to focus and explore how we can collaborate more concretely to grow our bilateral commercial relationship and contribute to our shared prosperity. Through the forum, we learned about tangible projects and initiatives in several sectors that the government is undertaking and where it is looking for private sector partners and investors. We also used the platform to raise concerns about ongoing issues critical to American companies doing business in Egypt, such as taxation and intellectual property rights. And we had an opportunity to look ahead in some areas. For example, when you consider Egypt’s plans in AI and its national strategy, joined with the innovative prowess of American technology companies and their ambitions for Egypt, there’s incredible promise for collaboration that builds on an already solid foundation of partnership in Egypt’s digital economy. Of course, a critical pillar of that cooperation is the government working with industry to develop a regulatory ecosystem that supports innovation and investment.
While it takes time to materialise, I am confident that the forum has served as a catalyst for deeper engagement on the policy front that will ultimately drive more partnerships, trade, and investment to our mutual benefit.
AO: What key sectors does the American companies’ delegation want to tap into?
SL: The US Chamber’s delegation of 50+ American companies reflects the range of the US-Egypt economic relationship. It is essential to mention that we have companies that are long-standing investors in Egypt, such as Apache Corporation, which chairs our US-Egypt Business Council, as well as businesses that are exploring opportunities and would be new to the Egyptian market. In terms of sectors, the delegation draws from many industries. I’d highlight energy, healthcare, digital and AI, finance, tourism, manufacturing, agriculture, infrastructure, logistics, and transportation. One new sector we’re keen to engage in—and that was represented in our delegation—is the space economy. These areas are crucial to our bilateral commercial ties, which we want to grow.
AO: Could you expand on the customs deal between Egypt and the US that the Egyptian Prime Minister and the US Ambassador to Cairo revealed during the forum?
SL: This is an agreement between our two governments. Therefore, I will defer the specifics to officials in the US and Egyptian governments. We, of course, welcome this development and initiatives like it that strengthen trade ties and bring our economies and business communities closer together.
AO: How is such a development expected to boost the historical economic and investment partnership between the two countries?
SL: What I can say is that the Chamber and our members welcome any agreement to enhance logistics, reduce costs, shorten timelines, eliminate inefficiencies, and make the flow of goods and services between Egypt and the United States more effective. The US currently enjoys a trade surplus with Egypt, and our hope is to see trade flows increase in both directions and our economic ties deepen going forward.
AO: How do the concerned American companies view the developments related to the new facilities Prime Minister Madbouly announced during the forum, specifically regarding the auto industry and halal certifications?
SL: I believe these decrees—and the customs deal announcement—signal that Prime Minister Madbouly and his cabinet are listening to the private sector and enacting reforms to increase bilateral trade by reducing barriers and streamlining processes. In the case of the auto industry, I know there have been discussions going on for years between our governments — and with the companies — about standards and the regulatory climate. It is certainly encouraging to see this progress, which we hope will lead to increasing trade and investment volume.
AO: How did the American business community receive the Egyptian President’s announcement regarding the state’s readiness to establish a US industrial zone in the SCZone?
SL: With this announcement, you have to appreciate that President Sisi is drawing upon some of Egypt’s core commercial strengths. First, Egypt’s strategic physical location and the presence of the Suez Canal as a vital route for trade between Asia, Africa, the Middle East, and Europe. Second, Egypt’s regional and bilateral trade agreements and how they provide preferential access and advantages for products exported from Egypt. These strengths factor into Egypt’s promotion of itself as a hub for American companies to engage commercially with Africa, the Middle East, and beyond.
I see the President’s announcement of a US zone as a natural extension of this goal. It also strongly indicates that President Sisi prioritises the strategic economic relationship between Egypt and the United States. We look forward to learning more about this proposal and understanding the incentives and benefits American companies would enjoy from such a zone.
