Business monthly May 98   FEATURE VIEWPOINT SUBSCRIPTION FORM Search Business Monthly | Back Issues

VIEWPOINT

A new ear of self- reliance

One of the factors that made this year’s Doorknock Mission to Washington such an unprecedented success was timing: our delegation arrived at a time when personal contacts were a determining factor in clarifying issues of concern to the American business and legislative communities. The fact that we spoke frankly from our experience as entrepreneurs and citizens rather than political envoys made our voices strong. Our perspectives regarding Egypt’s economic environment were received with both interest and respect.

The predicted cut of USAID funds to Egypt was the topic that headed the agenda. I may speak on behalf of the delegation in saying that we felt no negative connotation attached to the proposed cuts. The U.S. has made dramatic budget adjustments that affect foreign aid distribution worldwide as domestic budget items take priority. Discussions with government officials indicated that USAID will continue for the next year to two years and that funds will be gradually reduced over a period of 10 to 12 years.

In my opinion, the new situation is one that will evolve to Egypt’s advantage. There seems to be a great willingness to mitigate the effects of the cuts by taking measures to facilitate and deepen our countries’ bilateral trade agreements and overall business relationships. Several items under discussion include a shared free trade zone, higher quotas for Egyptian goods entering the U.S. market, and preferential interest rates to American companies investing in major projects here. Clearly, encouraging U.S. private sector investment in Egypt will help ensure sustainable growth; creating a basis for this growth was the primary aim of the USAID funds to begin with.

In fact, USAID finance and technical assistance was largely employed for several purposes: to upgrade and expand Egypt’s infrastructure; to assist the Egyptian government in the privatization process; and to help develop and promote exports. A great deal was accomplished and the private sector is now positioned to pick up where the government left off in terms of infrastructure expansion and industrial activities. Egypt is poised to move into a new era of self-reliance. We have been given the tools necessary for growth and the time has come to use them to our greatest advantage.

Egypt’s future looks bright. In addition to measures that will encourage U.S. involvement in Egypt, we have several mega-projects well under way that contribute to our economic stability while attracting international in-vestment. The new port/container complex east of Port Said and the massive New Valley development both will generate jobs and new communities. The government’s willingness to extend privatization to the maritime and transport sectors has encouraged foreign and domestic investors alike.

Aside from the issue of USAID, this year’s Doorknock mission was influential in clarifying another subject of concern in America, namely the so-called discrimination of the Copts. Several of our delegation members are prominent members of the Coptic community. They expressed the view that anti-persecution measures have been taken by expatriate Coptic groups whereas Copts in Egypt have not asked for this kind of assistance. Furthermore, it was explained that historically, Egypt’s reputation for religious tolerance is outstanding.

Finally, the theme and the purpose of this mission was to confirm Egypt’s role as the regional economic leader. The response that we received and the requests for further business missions from representatives of Congress to the states of Alabama, California, Connecticut, Massachusetts, Michigan, Minnesota, Oklahoma, Utah and Wisconsin confirms our success and provides a strong, positive direction for future AmCham efforts.

Ahmed Shawki
President, AmCham

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