If the recent flow of trade delegations to Cairo is an indicator of political and economic progress, then Egypt is on the right track. In November 2014, the US dispatched its largest ever trade delegation to Egypt, representing about 70 leading companies, in a sign of improving relations between the two countries. This was followed by the visit of similarly sized UK and Italian delegations in January and March of this year.
Indeed, the world is once again focusing on Egypt, and for good reason. Since assuming power, the country’s new president, Abdul Fattah al-Sisi, has worked hard to burnish the country’s credentials as an investor-friendly destination. This message hit home in March, following the successful hosting of the Egypt Economic Development Conference. Over three days, the government discussed its vision of economic development with some of the world’s leading business and political figures. By the end of the conference, $60bn-worth of investment commitments and soft loans had been pledged by attendees.
