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US investments in Egypt reach $21.8bn

US investments in Egypt reach $21.8bn
Minister of Trade and Industry, Nevine Gamea

Cairo – Mubasher: The Egyptian Minister of Trade and Industry, Nevine Gamea, said that there is a substantial development in commercial relations with the US, the Middle East News Agency (MENA) reported on Thursday.

Bilateral trade between the countries amounted to $8.618 billion in 2019, up from $7.530 billion a year earlier, Gamea revealed.

In addition, the US investments in the most populous Arab nation reached $21.8 billion in industrial, service, construction, developmental, agricultural, tourism, and communications and information technology sectors.

This came during the talks held between the trade minister and the delegation of the US Department of State headed by Keith J. Krach, the Under Secretary of State for Economic Growth, Energy, and the Environment.