U.S., Egypt seek strengthened economic ties

U.S., Egypt seek strengthened economic ties

   U.S. Trade Representative Ron Kirk and Egypt's Minister of Trade and Industry Rachid Mohammed Rachid signed an partnership agreement aimed at further promoting economic cooperation between the two countries.

   The so-called Plan for a Strategic Partnership instructs senior government officials of both countries to develop a framework over the next 90 days for cooperation in a number of trade and investment areas.

   The partnership also encourages the private sector to become involved in the discussions, 'recognizing that our efforts should be focused on practical solutions that effectively address the challenges our businesses face,' said Kirk and Rachid in a joint statement Wednesday.

   In addition, the partnership recognized the designation earlier this year, in cooperation with Israel, of two additional Qualified Industrial Zones in Upper Egypt. 'The expansion of the QIZ program in Egypt to the new zones of Beni Suief and Al Minya is another indication of our desire to strengthen U.S. trade relations with the region,' the trade officials said.