US sending high-level business delegation to Cairo

Sep 4, 2012, 9:11 PM

Associated Press

WASHINGTON (AP) – The Obama administration is sending to Cairo the largest ever U.S. trade delegation to the Arab world in a bid to help revitalize Egypt’s economy and strengthen ties between the once ironclad allies, officials said Tuesday.

More than 100 American executives from some 50 companies will arrive in Egypt on Saturday. U.S. titans such as Boeing, The Coca-Cola Company, General Electric, Google, IBM and Microsoft will be represented over four days of meetings.

Egypt’s economy has slumped since last year’s revolution that toppled autocrat Hosni Mubarak. U.S.-Egyptian ties have suffered, too.

State Department spokesman Patrick Ventrell said the trip “will identify new business opportunities and partnerships for U.S. companies, express U.S. business confidence in Egypt and demonstrate a commitment to Egypt’s long-term economic development.”

With a population of more than 85 million, Egypt is by far the Arab world’s biggest market. But two-way trade between the U.S. and Egypt totaled only $8.2 billion last year. U.S. trade with Germany, which has a similar- size population as Egypt, was $147.8 billion last year.

The delegation is part of an Obama administration effort to help countries undergoing democratic transitions as part of the Arab Spring.

The U.S. also has pledged $1 billion in debt relief for Egypt. Officials say they are working on making that money available for investment capital and job creation funds.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Uncategorized

...
No Author

Broomhead’s Action Alliance

Sign up to make a difference! Join Broomhead's Action Alliance to learn about upcoming volunteer opportunities where you'll work side by side with Mike Broomhead in service to others.
14 days ago
FILE - A sign bearing the company logo is displayed outside a Tesla store in Cherry Creek Mall in D...
Associated Press

US has over 750 complaints of Teslas braking for no reason

DETROIT (AP) — More than 750 Tesla owners have complained to U.S. safety regulators that cars operating on the automaker’s partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration revealed the number in a detailed information request letter to Tesla that was posted Friday on […]
2 months ago
A destroyed window of a house is seen during a military sweep to search for possible remnants of Ru...
Associated Press

Zelenskyy: Retreating Russians leave many mines behind

KYIV, Ukraine (AP) — Ukrainian President Volodymyr Zelenskyy warned his people early Saturday that retreating Russian forces were creating “a complete disaster” outside the capital as they leave mines across “the whole territory,” even around homes and corpses. He issued the warning as the humanitarian crisis in the encircled city of Mariupol deepened, with Russian […]
5 months ago
...
Arizona Department of Gaming

While March brings upsets and buzzer-beaters, it also needs to bring caution

In March, basketball fans around the country glue themselves in front of a television for almost 11 hours for four consecutive days.
5 months ago
Follow @KTAR923...
KTAR.com

Some of the greatest Big Game comebacks in NFL history

The Big Game has brought some of the best and worst comebacks for not only the casual fan, but gambling fans.
6 months ago
KTAR.com

Couple residing in Chandler arrested for AHCCCS, pandemic loan fraud

A couple residing in Chandler was arrested on Wednesday for allegedly fraudulently billing the Arizona healthcare system and for fraud in their applications for COVID-19 pandemic-related loans, authorities said.
1 year ago

Sponsored Articles

...
Mayo Clinic Orthopedics and Sports Medicine

Why your student-athlete’s physical should be conducted by a sports medicine specialist

Dr. Anastasi from Mayo Clinic Orthopedics and Sports Medicine in Tempe answers some of the most common questions.
...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
...
CANVAS ANNUITY

Best retirement savings rates hit 4.30%

Maximize your retirement savings with guaranteed fixed rates up to 4.30%. Did you know there is a financial product that can give you great interest rates as you build your retirement savings and provide you with a paycheck for life once you retire? It might sound too good to be true but it is not; this product is called an annuity.
US sending high-level business delegation to Cairo