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Egypt: 4.5% increase in textile exports to US

Global Arab Network - - Mohammed Almasri

Sunday, 04 July 2010 12:57

Egyptian exports of textiles and garments to the United States increased by 4.5 percent during the first quarter of 2010, according to a recent report, submitted to Minister of Trade and Industry Rasheed Mohamed Rasheed by the Egyptian Commercial Representation Office in Washington.

The report said Egyptian exports of textiles and garments to the US markets during Q1 2010 hit 327.8 million dollars compared to 313.8 million dollars during the same period in 2009.

It is worth mentioning that the U.S. has a large assistance program in Egypt and provides funding for a variety of programs. Through its Human and Economic Sector Development cash transfer program, the U.S. Agency for International Development (USAID) is supporting benchmarks that aim to stimulate the small and microenterprise sectors, improve budget transparency to increase macroeconomic stability, and improve the trade regime and business climate.

The United States and Egypt enjoy a strong and friendly relationship based on shared mutual interest in Middle East peace and stability, revitalizing the Egyptian economy and strengthening trade relations, and promoting regional security.

An important pillar of the bilateral relationship remains U.S. security and economic assistance to Egypt. In addition, the U.S. Agency for International Development (USAID) has provided over $28 billion in economic and development assistance to Egypt since 1975. Early assistance focused on infrastructure, health, food supply, and agriculture.

The Commodity Import Program, through which USAID provided hundreds of millions of dollars in financing to enable the Egyptian private sector to import U.S. goods, was one of the largest and most popular USAID programs. Current programs focus on trade and investment; utilities; education; healthier, planned families; natural resources; democracy and governance; and other programs supported by the Middle East Partnership Initiative (MEPI).

Global Arab Network

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