US eyes expanding cooperation with Egypt on trade, port development

These opportunities were discussed between Alexandria Governor Ayman Attia and US Chargé d’Affaires Robert Silverman during his two-day visit to the governorate, which focused on strengthening economic and cultural ties with Alexandria. No details on future projects or a timeline were provided.

Silverman also attended the opening ceremony of a new plastic bottle production line worth $35 million at the Coca-Cola Hellenic factory in Alexandria on Sunday.

He said the US views Egypt’s Alexandria and North Coast as a “hub for energy in the Eastern Mediterranean,” making it a natural partner for American companies.

This comes as Egypt aims to increase exports by 15–20 percent annually through 2030 to reduce its import bill amid the US-Israeli war on Iran, which has led to economic fallout.

The war has led to a decline in exports and a sharp rise in imports, widening Egypt’s trade deficit by 53.9 percent year-on-year to $15.48 billion in the first quarter of 2026.

Bilateral trade between Egypt and the United States reached $8.6 billion in 2024, making Egypt the US’s fifth-largest trading partner in the region.

Since earlier this year, Egypt has been urging US manufacturers and companies to increase investments in its transportation and industrial sectors, highlighting potential opportunities at the ports of Berenice, Ain Sokhna, Safaga, Alexandria, and Gargoub.

Cairo has also called on American firms to invest in and develop data centres using artificial intelligence to serve industrial needs in both local and regional markets, as the US remains a global leader in AI development.

Manufacturing is the second-largest recipient of US investment in Egypt, with total investment reaching nearly $896.8 million as of February 2025, accounting for 35 percent of US non-petroleum capital.