During his meeting with members of the American Chamber of Commerce, Industry and Foreign Trade Minister Mounir Fakhri Abdel Nour said that Egyptian-American economic relations are strategic and based on mutual interests to achieve cooperation between the two countries.

He added that the joint cooperation between Egypt and the U.S. would increase the investments between the two countries. Representatives of the private sector should play a vital role in reinforcing cooperation with American companies.

The meeting touched upon ways and means of increasing joint cooperation between the two countries through making use of the U.S. Generalized System of Preferences (GSP).

The GSP is a program designed to promote economic growth in the developing world by providing preferential duty-free entry for up to 5,000 products when imported from one of 127 designated beneficiary countries and territories.