Prime Minister, Mostafa Madbouly, announced that the two governments have reached the final stage of discussions on a customs cooperation agreement, which is expected to enter into force soon.
Egypt and the United States are in advanced negotiations to sign a bilateral agreement that will regulate customs transactions between the two countries, according to officials from both sides speaking at the Egypt-U.S. Economic Forum held in Cairo today.
Prime Minister, Mostafa Madbouly, announced that the two governments have reached the final stage of discussions on a customs cooperation agreement, which is expected to enter into force soon. He emphasized the importance of this step in facilitating trade and enhancing the transparency and efficiency of customs procedures between the two nations.
From the U.S. side, Ambassador Herro Mustafa Garg confirmed that Cairo and Washington will soon sign the agreement, marking a new chapter in bilateral economic coordination.
This comes in the context of trade tensions from April last year, when former U.S. President Donald Trump imposed a 10% tariff on Egyptian exports to the United States as part of what he called Liberation Day — a move that involved imposing tariffs on several of America’s trading partners. However, the tariffs were later suspended for 90 days following global reactions and negotiations.
According to data from the Central Agency for Public Mobilization and Statistics (CAPMAS), total trade between Egypt and the United States reached approximately $9.8 billion last year—reflecting a 37.4% increase compared to the previous year.
Egyptian exports to the U.S. amounted to around $2.2 billion, while American imports to Egypt reached $7.6 billion, highlighting the trade imbalance and the importance of structured agreements to foster more equitable trade relations moving forward.
