{"id":647263,"date":"2017-05-07T04:00:05","date_gmt":"2017-05-07T04:00:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/07\/amchams-2017-doorknock-mission-has-drawn-to-a-close-our-final-report\/"},"modified":"2017-05-07T04:00:05","modified_gmt":"2017-05-07T04:00:05","slug":"amchams-2017-doorknock-mission-has-drawn-to-a-close-our-final-report","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/07\/amchams-2017-doorknock-mission-has-drawn-to-a-close-our-final-report\/","title":{"rendered":"AmCham\u2019s 2017 Doorknock Mission has drawn to a close \u2014 our final report."},"content":{"rendered":"<p><strong>AmCham\u2019s annual Doorknock mission wrapped up on Friday <\/strong>in Washington, DC, on a positive note. We joined the media delegation for a chat with outgoing AmCham President Anis Aclimandos and Omar Mohanna, chairman of the Egypt-US Business Council, for a briefing on this year\u2019s mission. Key takeaways:<\/p>\n<ul type=\"disc\">\n<li>Overall, the delegation felt that the view of Egypt in DC is very positive \u2014 that \u201c<strong>a new <\/strong><strong>page\u201d has been turned in Egypt-US relations<\/strong>. This was fueled by President Abdel Fattah El Sisi\u2019s visit to the US. For the first time in years, <strong>US administration officials and members of Congress spoke of Egypt as an \u201cally.\u201d<\/strong><\/li>\n<li>The delegation came seeking <strong>partnership, not aid<\/strong>. Egypt brings significant opportunities to the table given its large domestic market of more than 90 mn people and its network of interlocking trade agreements. <\/li>\n<li><strong>Egypt\u2019s economic reform program was well received in Washington<\/strong>, where policymakers and lawmakers welcomed the elimination of the FX parallel market and moves to allow the repatriation of profits and capital.<\/li>\n<li><strong>There were concerns about the high level of inflation in Egypt<\/strong>, but a recognition that the economy has so far proven able to absorb shocks and that Egyptian consumers are resilient. Other concerns raised centered on savings and tax revenues as a percentage of GDP.<\/li>\n<li><strong>A backlog of USD 400-450 in unused US economic aid <\/strong>from previous budget cycles will not be recalled, which sends a positive sign.<\/li>\n<li><strong>The strategic dialogue between Egypt and the US<\/strong> will likely have a business component \u2014 a significant achievement, in our view.<\/li>\n<li>The Doorknock delegation brought up the issue of a <strong>free-trade agreement with the US<\/strong>, a perennial \u201cask\u201d on the Egyptian side that has in the past seen the US counter with conditionality on human rights. (We\u2019re of two minds here: On the one hand, it\u2019s hard to remember a president more predisposed to engage with Egypt than Trump. On the other, Trump\u2019s skepticism of free trade is exceptionally clear.)<\/li>\n<li>There appears to no significant US objection to <strong>reducing the minimum percentage of <\/strong><strong>Israeli content in exports to the US from Qualifying Industrial Zones<\/strong> to 8.5% from 10.5%. That said, the delegation was told the issue must be dealt with at the political level between Egypt and Israel.<\/li>\n<li><strong>Creating better economic opportunities is a weapon in the war against terror<\/strong>. The US sees Egypt as a moderating force in the global struggle against religious extremism.<\/li>\n<li>Concerns about <strong>human rights<\/strong> and lawsuits related to US NGOs were brought up.<\/li>\n<li>The AmCham delegation held a <strong>total of 87 meetings<\/strong> including 54 with Congressmen, and nine with executive authorities such as the <a href=\"https:\/\/www.ustda.gov\/\">USTDA<\/a>, the EXIM Bank, the <a href=\"https:\/\/www.sba.gov\/\">Small Business Administration<\/a>, and the Departments of Treasury, of Commerce, of Energy, and of State. <\/li>\n<li>The delegation met with <strong>International Finance Corporations<\/strong> (the <a href=\"https:\/\/www.opic.gov\/\">OPIC<\/a>, the World Bank, and the USAID), influential figures like NY Times columnist Thomas Friedman and George Washington University scholar Nathan Brown. They also met with 16 think tanks.<\/li>\n<\/ul>\n<p><strong>Egypt\u2019s ambassador to the US Yasser Reda<\/strong> also hosted the delegation at the embassy. Key takeaways:<\/p>\n<ul type=\"disc\">\n<li><strong>A bilateral \u201cstrategic dialogue\u201d on policy implementation is in the works.<\/strong> That dialogue will be run by Egypt\u2019s minister of foreign affairs and the US secretary of state. The ambassador did not specify when the dialogue could kick off, but said he hopes it will be before autumn. <\/li>\n<li>Reda highlighted that Egypt will benefit from credit guarantees from the US.<\/li>\n<li>There was talk during El Sisi\u2019s visit about <strong>a free-trade agreement between the US and <\/strong><strong>Egypt<\/strong>, and early talks are still ongoing at the ministerial level.<\/li>\n<li>El Sisi\u2019s visit to Washington wasn\u2019t to sign agreements, but to have Egypt present its views on regional matters to the new US administration while the latter is still shaping its policies.<\/li>\n<li>El Sisi met with US companies to promote investment in Egypt. A positive political climate has an indirect effect on encouraging businesses to invest, the ambassador said.<\/li>\n<li>Egypt did not come to the US looking for aid, but for a strategic partnership and to attract investment.<\/li>\n<\/ul>\n<p><strong>Enterprise sat with Hazem El Beblawi, executive director of the IMF<\/strong> and former Egyptian prime minister and finance minister, along with the media delegation accompanying the AmCham Doorknock mission. Key takeaways from the luncheon:<\/p>\n<ul type=\"disc\">\n<li>The second USD 1.25 bn tranche of the USD 12 bn facility to Egypt will be disbursed six weeks after the IMF concludes its current mission to evaluate progress on the economic reform agenda, <a href=\"http:\/\/gate.ahram.org.eg\/News\/1511718.aspx\">said<\/a> El Beblawi. <\/li>\n<li>Asked whether interest rates are an effective means of transmitting and inflation-targeting monetary policy given Egypt\u2019s large unbanked populated, El Beblawi said it is one tool that can be used as part of a larger set of economic reform policies that work together.<\/li>\n<li>The IMF\u2019s extended fund facility has made it easier for Egypt to access global credit markets and is a seal of approval on Egypt\u2019s economic reform program.<\/li>\n<li>Improving the quality of local goods is the key to boosting Egypt\u2019s exports \u2014 it\u2019s not just about cost-competitiveness.<\/li>\n<\/ul>\n<p><strong>State Department official describes Egypt as \u201cmajor non-NATO ally\u201d: <\/strong>We visited the State Department last week with the media delegation, where an official described Egypt as a \u201cmajor non-NATO ally of the United States.\u201d President Abdel Fattah El Sisi\u2019s visit was very successful, he said, adding that the US is looking forward to working with Egypt make progress on <strong>files including security, the economy, trade, and regional issues.<\/strong> The official suggested that talk of any specific agreement to liberalize trade between the two countries would be premature.<\/p>\n<p><strong>\u201cThe most important thing about El Sisi\u2019s visit is that it happened\u201d:<\/strong> The delegation also sat with Mirette Mabrouk, deputy director and director of research and programs at the Atlantic Council\u2019s<a href=\"http:\/\/www.atlanticcouncil.org\/programs\/rafik-hariri-center-for-the-middle-east\">Rafik Hariri Center for the Middle East<\/a>. \u201cThe most important thing about [President Abdel Fattah El Sisi's] visit is that it happened,\u201d Mabrouk said, adding that it is too early to discuss what to expect of the Trump administration because it is still shaping its policies and many Department of State positions are<a href=\"https:\/\/www.state.gov\/misc\/19232.htm\">still vacant<\/a>. It\u2019s also key to remember that Trump does not rule alone, Mabrouk said, noting that Congress will have an influence on how relations between the two countries unfold. That said, it\u2019s clear the Trump administration is putting significant focus on security issues. Mabrouk said the US is \u201cconcerned\u201d about what is happening in Sinai, but that it believes it is up to the Egyptian government to deal with it its own way. On fears relating protectionism, she said the US will always be open for business. The only impediments to more US companies doing business in Egypt will be security and the regulatory framework.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AmCham\u2019s annual Doorknock mission wrapped up on Friday in Washington, DC, on a positive note. We joined the media delegation for a chat with outgoing AmCham President Anis Aclimandos and Omar Mohanna, chairman of the Egypt-US Business Council, for a briefing on this year\u2019s mission. Key takeaways: Overall, the delegation felt that the view of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647263","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"08bdcb53-d8f1-4fdb-a6b3-670fb73d9cec","order":"0","is_powered_by":true,"section_story_id":"683c0c3d-c560-49c3-acc6-f9b60826fd82","story_type":"1","photo_url":"","photo_position":"above","related_issue":[647242],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>AmCham\u2019s 2017 Doorknock Mission has drawn to a close \u2014 our final report. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/07\/amchams-2017-doorknock-mission-has-drawn-to-a-close-our-final-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AmCham\u2019s 2017 Doorknock Mission has drawn to a close \u2014 our final report.\" \/>\n<meta property=\"og:description\" content=\"AmCham\u2019s annual Doorknock mission wrapped up on Friday in Washington, DC, on a positive note. 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The get-together for members of the media took place on the sidelines of AmCham\u2019s annual Doorknock mission to DC, which runs through Friday. Research Director Allison McManus and Advocacy and External Relations\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631450,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/wrap-up-of-amchams-doorknock-in-washington-dc\/","url_meta":{"origin":647263,"position":1},"title":"Wrap-up of AmCham\u2019s Doorknock in Washington, DC","author":"enterpriseam admin","date":"19 March 2018","format":false,"excerpt":"US trade delegation reportedly inbound after AmCham wraps 40th Doorknock in Washington, DC: AmCham wrapped up its fortieth annual Doorknock mission to Washington, DC, last week on what its leadership called a \u201chigh note,\u201d with plans for a 50-company US trade delegation to make a return visit to Cairo in\u2026","rel":"","context":"In &quot;Spotlight&quot;","block_context":{"text":"Spotlight","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/spotlight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/3\/CapitolHill-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602680,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/imf-sings-the-praises-of-egypt-stresses-private-sector-development\/","url_meta":{"origin":647263,"position":2},"title":"IMF sings the praises of Egypt, stresses private sector development","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"An IMF delegation will arrive in May to give us our final report card: An International Monetary Fund (IMF) delegation will be in town this May to conduct its final review of the Sisi administration\u2019s reform program ahead of the disbursement of the sixth and final tranche of a USD\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/153.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631395,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/18\/egypt-must-expand-the-social-safety-net-to-support-the-middle-class-world-bank-group\/","url_meta":{"origin":647263,"position":3},"title":"Egypt must expand the social safety net to support the middle class -World Bank Group","author":"enterpriseam admin","date":"18 March 2018","format":false,"excerpt":"Egypt\u2019s next wave of reform needs to pay special attention to supporting the middle class, according to Merza Hasan, dean of the executive board and executive director of the World Bank Group (WBG). \u201cThere must be a social protection program for the middle class because it\u2019s that group that will\u2026","rel":"","context":"In &quot;SPOTLIGHT: AMCHAM\u2019S 2018 DOORKNOCK IN WASHINGTON, DC&quot;","block_context":{"text":"SPOTLIGHT: AMCHAM\u2019S 2018 DOORKNOCK IN WASHINGTON, DC","link":"https:\/\/enterpriseam.com\/egypt\/category\/spotlight-amchams-2018-doorknock-in-washington-dc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647078,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/02\/enterprise-coverage-of-middle-east-institute-discussion-on-sidelines-of-amcham-doorknock-mission\/","url_meta":{"origin":647263,"position":4},"title":"Enterprise coverage of Middle East Institute discussion on sidelines of AmCham Doorknock mission","author":"enterpriseam admin","date":"2 May 2017","format":false,"excerpt":"Is Donald Trump Middle East-bound? Enterprise paid a visit to the non-profit Middle East Institute in Washington, DC, as part of a media delegation on the sidelines of the AmCham Doorknock mission that kicked off Monday. We sat with Paul Salem, MEI\u2019s vice president for policy and research, and Gerald\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631394,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/18\/631394\/","url_meta":{"origin":647263,"position":5},"title":"We have special coverage from\u2026","author":"enterpriseam admin","date":"18 March 2018","format":false,"excerpt":"We have special coverage from Washington, DC, of the American Chamber of Commerce in Egypt\u2019s 2018 DoorKnock, the private sector\u2019s premier lobbying drive each year to seed the Capitol and beyond with pro-business messages from Egypt. Today, we have coverage of a World Bank Group briefing and a panel discussion\u2026","rel":"","context":"In &quot;SPOTLIGHT: AMCHAM\u2019S 2018 DOORKNOCK IN WASHINGTON, DC&quot;","block_context":{"text":"SPOTLIGHT: AMCHAM\u2019S 2018 DOORKNOCK IN WASHINGTON, DC","link":"https:\/\/enterpriseam.com\/egypt\/category\/spotlight-amchams-2018-doorknock-in-washington-dc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=647263"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647263\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/647242"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=647263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=647263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=647263"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=647263"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=647263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}