High-profile political and economic figures from both Egypt and the US held meetings and made statements before and after US President Barack Obama’s visit and his lengthy address at Cairo University. The Egyptian-European Council, chaired by MP Mohamed Abou El Enein—who also serves as head of the economic committee in the Euro-Mediterranean Parliament and is a member of Egypt’s parliament—organised a seminar titled ‘After Obama’s Speech’. Among its most prominent guests was Margaret Scobey, the US ambassador to Cairo. Additionally, statements were issued by Rachid Mohamed Rachid, Egypt’s minister of trade and industry, as well as Ron Kirk, the US trade representative.
Scobey expressed optimism about the future of US-Egypt relations, emphasising their importance. ‘Many Egyptians appreciated the message of the US president, and I believe it serves as a call for all parties to establish fair relations to address shared challenges,’ she said. This sense of optimism was echoed by many attendees, including Nabil Fahmy, Egypt’s former ambassador to the US; Mohamed Bassiouny, Egypt’s former ambassador to Israel; and Adly Hussein, the governor of Qalyubia and a member of the Egyptian-European Council. All spoke in the same hopeful tone about a new chapter in Egyptian-American relations following Obama’s speech.
Rachid, in multiple media statements, described the visit as ‘the beginning of a new phase in relations between the two countries’. He added: ‘We are opening a new page in Egypt-US relations with a new administration that is clearly engaging at a higher level and taking a more active role in our region.’ His remarks aligned with a joint statement he issued with Ron Kirk, which stated: ‘Deepening trade ties is in line with the strong cooperation between Washington and Cairo on political and security issues.’ The statement also revealed that the two governments had signed a ‘US-Egypt Strategic Partnership Plan’, under which officials from both sides would work over the next three months to develop a framework for trade and investment cooperation.
In parallel efforts, the Egyptian Businessmen’s Association held a roundtable meeting with the US ambassador, during which it announced plans to encourage the American business community to increase trade with Egypt and attract further US investments. The ambassador stated that in the coming years, Egypt would see more American investments flowing in, with small and medium-sized enterprises in particular benefiting from these opportunities. She also emphasised that bilateral trade would be encouraged through deeper economic engagement. The trade volume between Egypt and the US reached $8.4 billion in 2008—an increase of 124% compared with 2003. Engineer Hussein Sabbour praised Scobey’s position and added that the association would work to facilitate stronger ties between the Egyptian and American business communities.
However, at the same ‘After Obama’s Speech’ seminar, Scobey advised caution regarding a free trade agreement between Egypt and the US. ‘Egypt should not rush into signing a free trade agreement, as this issue is linked to a broader reorganisation of relations between the two countries,’ she said. This statement, which contrasted with the overwhelmingly optimistic economic discourse, highlighted the weight of Obama’s political agenda in his Cairo address. The speech tackled nearly all major political files, leaving economic matters to be dealt with in a more measured and practical manner. Yet, despite this wide-ranging political momentum, a degree of uncertainty remains—albeit limited—regarding the future trajectory of Egypt-US relations, which are now on their most positive course in decades. The flurry of economic statements before and after the visit reflects this political optimism, and any potential slowdown in economic progress may be equally linked to the shifting political landscape in the wake of Obama’s speech.
This article is originally published by AlBorsa in Arabic and later AI-translated by South Push.