President Abdel Fattah El Sisi’s trip to Washington was still the highlight of the airwaves for a second night in a row on Sunday.
President Abdel Fattah El Sisi’s trip to Washington was the highlight of the airwaves for a second night in a row.
On Hona Al Asema, Lamees El Hadidi spent a busy day interviewing the ministers who joined El-Sisi in DC and was told by Foreign Minister Sameh Shoukry that the trip will definitely touch on the topic of US military aid to Egypt(watch, runtime 9:17).
Finance Minister Amr El Garhy told Lamees that his message was that Egypt a great investment destination and that the private sector is very much in the driver’s seat of economic growth (watch, runtime 8:06).
The visit aims to help boost Egyptian exports to the US and expand American investments in Egypt, Trade Minister Tarek Kabil told the host. The delegation will meet with US CEOs and may again bring up a trade and investment framework agreement with the US as a precursor to a free trade agreement, (watch, runtime 7:44).
Investment Minister Sahar Nasr wants more investment, adding that the World Bank and African Development Bank had both been keen on delivering the second tranches of their development loan to Egypt ahead of the trip to underscore their confidence in Egypt’s economic recovery (watch, runtime 9:33). A World Bank Group delegation is also in Cairo for talks on the disbursement of the third and final USD 1 bn tranche of a USD 3 bn facility, she added.
The third tranche of the World Bank facility will be used to promote investment and improve the overall business climate, the WBG’s Egypt Executive Director Mezra Hassan told Lamees.Hassan also warned that backtracking or slowing down the pace of economic reforms could have catastrophic results for Egypt, including a scenario that sees the exchange rate rising to EGP 30-40 per greenback. He confirmed that the group intends to disburse the third tranche the USD 3 bn facility soon (watch, runtime 6:53).
Egypt pitched GE CEO Jeff Immelt on renewable energy and railway projects, Trade Minister Kabil told Yahduth fi Masr’s Sherif Amer.
El Sisi is also expected to give a speech to business leaders in Washington on Tuesday to present Egypt’s vision for economic development, Kabil told Amer. House of Representatives Deputy Speaker Soliman Wahdan told Amer that at least 40 members of the US Congress are behind Egypt’s drive to designate the Ikhwan a terrorist group
And because it wouldn’t be the same if he didn’t have at least one thing to rant about every night, Kol Youm’s Amr Adib went on about a Washington Post article that seemed less than thrilled about the warming ties between Egypt and the US (watch, runtime 3:19).
Adib also moved on to cover new developments in the Tiran and Sanafir islands’ sovereignty handover agreement (more in the Speed Round) and spoke to the former dean of Cairo University’s faculty of law, Mahmoud Kebaish, who confirmed that yesterday’s ruling is nonbinding (watch, runtime 1:36). MP Alaa Abdel Moneim was of the same mind, arguing that the Supreme Administrative Court’s ruling, which nullified the handover agreement, was final and not up for debate. The MP also believes that the Ismail government was wrong to send the agreement over to the House. “Only the president has the power to pass international agreements over to the House,” he said (watch, runtime 4:19).