Egypt's Minister of Investment and Foreign Trade, Mohamed Farid, and Minister of Planning and Economic Development, Ahmed Rostom, recently held talks with US Commerce Secretary Howard Lutnick in Washington, DC. The meeting took place on the sidelines of the B20 Business Summit 2026, as part of the preparatory activities for the G20 meetings. The discussions focused on exploring ways to deepen trade and investment relations between Egypt and the US.
During the meeting, Farid reviewed several issues related to strengthening cooperation in trade remedies and exchanging expertise in this area. Both sides agreed to continue technical consultations between the relevant authorities to support the fair competitiveness of Egyptian exports and facilitate bilateral trade. This move aims to promote Egyptian exports and create a more favorable business environment for investors.
Farid also highlighted the Ministry's efforts to launch the National Foreign Direct Investment Strategy, which aims to identify priority sectors and direct investment promotion efforts towards investments with high added value. Advanced technology sectors, including information and communications technology (ICT), automotive and smart mobility technologies, and cybersecurity, offer promising opportunities for cooperation with US companies.
Rostom reviewed the Egyptian state's plan to address the repercussions of regional geopolitical developments, stressing that the economy had demonstrated resilience thanks to proactive fiscal and monetary policy measures. He noted that the economy recorded real growth of 5.1% in FY2025/2026, compared with approximately 4.4% in the previous fiscal year. This growth indicates a positive trend in Egypt's economic development.
Rostom also highlighted progress in reducing inflation, noting that the headline inflation rate declined to 12% in October 2026, from 12.8% in September, while core inflation fell to 14.1%. These developments suggest that Egypt's economy is moving in the right direction, with efforts to control inflation and promote growth.
The Egyptian ministers' meeting with Lutnick underscores the country's efforts to strengthen economic ties with the US and other countries. By promoting trade and investment relations, Egypt aims to attract more foreign investment and create new opportunities for economic growth. The National Foreign Direct Investment Strategy and the Economic Entities Platform are key initiatives in this effort.
The discussions between Farid, Rostom, and Lutnick reflect the ongoing cooperation between Egypt and the US in the economic sphere. Both countries are working to create a more favorable business environment and promote trade and investment relations. The outcome of these efforts will likely have a positive impact on Egypt's economy and its relations with the US.
Key points
- Egypt's Investment and Planning ministers met with US Commerce Secretary Howard Lutnick to discuss strengthening economic ties and trade relations between the two countries.
