On December 14, the U.S. Chamber applauded the release of a report prepared by the Center for Strategic and International Studies (CSIS) with support from the Chamber-affiliated U.S.-Egypt Business Council
calling for U.S. policy makers to work toward the goal of launching
free trade agreement (FTA) negotiations with Egypt. "As the United
States continues to pursue its goal of doubling exports by 2014, it must
look towards countries that will be integrating into the global
economy," said Lionel Johnson, vice president of Middle East and North
Africa Affairs. "This report is simple in its message: closer trade
relations between the United States and Egypt can bring growth and jobs
for both countries."
The report, entitled The Role of FTA Negotiations in the Future of U.S.-Egypt Relations,
emphasized how a potential FTA with Egypt could create jobs in the
United States and Egypt. It noted that the United States has a history
of providing economic aid to Egypt and has earmarked roughly $250
million each year since 1999 across a variety of trade, economic,
health, and education activities. This total is among the largest of all
U.S. assistance programs. As highlighted in the report, a FTA would be a
budget neutral, economic approach to support a key strategic ally.
According to the Office of the United States Trade Representative, Egypt
was the 33rd largest market for U.S. goods exports in 2010, and the
growth trend in the commercial relationship is continuing. U.S. goods
exports to Egypt in 2010 were $6.8 billion, up 30.1% ($1.6 billion) from
2009, and up 140% from 1994. For details, please contact Amanda Riggs
with the U.S.-Egypt Business Council (ariggs@uschamber.com).
