Arab Republic of Egypt Ministry of Investment and Foreign Trade General Organization for Export and Import Control

US Ambassador: At the end of October, there will be discussions between Egypt and America on the latest developments in the “TEFA” agreement, adding: We will work with Egypt through bilateral groups to set standards for the automotive industry.

This came during the first annual forum entitled “Developing Concepts to Unleash Export Potential” which is organized by the General organization for Export and Import Control under the patronage of the Ministry of Investment and Foreign Trade.

The ambassador explained: “We are taking tangible steps to facilitate trade movement between markets and create a favorable environment for trade, which will benefit Egypt.”

She pointed out that in 1999 a trade and investment agreement (TEFA) was signed between the two countries, With the aim of encouraging and increasing the volume of trade exchange and paving the way for entering into an agreement to establish a free trade zone between the two countries, this agreement included several agreements for economic, scientific and technological cooperation and cooperation in the field of environmental protection.

Five agreements and four memoranda of understanding were signed in various fields, the most important of which is the development of small and medium industries and Also in the field of environment, commercial activity laws and education, the participation agreement included the formation of three committees to implement the participation agreement between the two countries, which were: the Egyptian-American Presidential Council, the Joint Committee on Economic Development, and the Joint Council on Science and Technology