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Egypt, US discuss strengthening strategic partnership

Prime Minister Mostafa Madbouly affirmed Egypt’s keenness to continue the strategic partnership it has with the US, explaining that the economic repercussions of regional and international crises all require the two countries to work together to strengthen relations.

This came during his Monday meeting with a delegation of members of the Ways and Means Committee of the US House of Representatives, which includes representatives of the Republican and Democratic parties, headed by the Chairman of the Committee Jason Smith,

Egypt has made intensive efforts to maintain the solidity and flexibility of the national economy in the face of external shocks, the prime minister said.

The government succeeded in reaching a financing agreement with the International Monetary Fund worth US$8 billion, and signed an agreement regarding it at the level of expert.

This agreement is a certificate of confidence from a major international institution that the Egyptian economy is capable of achieving positive performance indicators.

Madbouly also referred to the existing cooperation with the World Bank Group and international partners such as the European Union to support structural reforms of the Egyptian economy and development plans aimed at empowering the private sector.

He reviewed the major projects being implemented in Egypt, which he assured will create job opportunities especially for youth and develop the necessary infrastructure to attract and encourage investments.

Madbouly touched on Egypt’s continuous coordination with the US regarding climate change, especially since the formation of the work group between the two countries officially launched in February 2022 as one of the outcomes of the strategic dialogue.

This contributed to launching many initiatives, especially in mitigation and adaptation during Egypt’s presidency of COP27 in Sharm el-Sheikh.

Edited translation from Al-Masry Al-Youm

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