Egypt, US agree to resume TIFAs negotiations

Egypt and the US agreed on resuming TRADE AND INVESTMENT Framework Agreements (TIFAs) negotiations to increase trade exchange between the two countries, the Ministry of Trade and Industry said in a statement Wednesday.

The negotiations resumption was agreed upon between Egyptian Trade and Industry Minister Tarek Qabil and US Secretary of Commerce Wilbur Ross on the sidelines of the current visit of President Abdel Fattah El Sisi to Washington.

The two sides discussed setting up more joint projects within the coming period and finding new economic cooperation spheres that better serve the Egyptian and US economies, the statement said.

They underlined the importance of removing all hurdles to increasing trade between the two countries and the US presence in the Egyptian market.

Talks also took up progress achieved so far as regards allowing Egyptian citrus' access to the US market after meeting cooling and preservation conditions.

The Egyptian side called for reconsidering measures levied by the National Transportation Safety Board on Egyptian commercial shipments and lifting Egypt's name from the Watch list in the 2016 Special 301 Report. The report defines foreign countries that deny adequate and effective protection of intellectual property rights (IPR).

The US secretary reiterated his country's keenness on enhancing strategic relations with Egypt in all domains.

He expressed readiness to sign more cooperation agreements with Egypt to increase trade exchange.

He also called for facilitating the participation of US companies in tenders held by the Egyptian government to allow US companies to have a greater presence in the Egyptian market.