Cairo, Egypt – The U.S. Trade and Development Agency today signed a Memorandum of Understanding (MoU) with the Egyptian Ministry of Petroleum and Mineral Resources, paving the way for further cooperation between the United States and Egypt in the petroleum sector.
The MoU was signed by USTDA Regional Director Carl B. Kress and Osama Mobarez, Undersecretary for Technical Office of the Ministry of Petroleum and Mineral Resources for Egypt. USTDA’s Acting Director Thomas R. Hardy and Egypt’s Minister of Petroleum and Natural Resources H.E. Tarek El Molla witnessed the signing. The ceremony took place at the EGYPS 2020 Petroleum Show, the largest oil and gas conference across Egypt, North Africa and the Mediterranean.
“USTDA’s partnership with Egypt is a key priority for the agency,” said Hardy. “We are delivering technical expertise, expert training and private sector solutions to advance the high-quality infrastructure Egypt can utilize to become a leading energy hub.”
“The agreement aims at supporting cooperation between the two sides in the Petroleum Sector’s Modernization Project, especially in the infrastructure domain,” said Minister El Molla. “We are determined to continue cooperating with international financial institutions.”
“The MOU signed today between USTDA and the Ministry reflects the U.S. government’s commitment to Egypt and our support for the transformation of Egypt’s petroleum sector,” said U.S. Ambassador to Egypt Jonathan Cohen, who also attended the signing.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
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