Bush Offers Egypt Free Trade Agreement in Exchange for Reforms

President George W. Bush met with Egyptian Prime Minister Ahmed Nazif on Wednesday, hinting at a potential free trade agreement if Egypt continues its economic and political reforms. The meeting follows President Hosni Mubarak's pledge to hold open presidential elections this fall, which could strengthen Egypt's trade relationship with the United States. The White House is working with Congress to advance a possible free-trade agreement, with Bush asking his trade representative and the Egyptian trade minister to establish conditions necessary for advancing the objective.

Key Takeaways:

• The United States is considering a free trade agreement with Egypt, contingent on the country's continued economic and political reforms.
• President Hosni Mubarak has pledged to hold open presidential elections this fall, which the Bush administration sees as a crucial step towards strengthening trade relations.
• Egypt has taken steps to prepare for a free trade agreement, including changes to laws and regulations covering intellectual property rights, telecommunications, and information technology.
• The White House is working with Congress to push ahead with a possible free-trade agreement, despite Egypt's earlier withdrawal from a lawsuit against the European Union over genetically altered food imports.
• President Bush has asked his trade representative to press ahead with talks to remove obstacles to formal negotiations for a trade agreement.
• Egypt is one of the countries envisioned in the Middle East Free Trade Agreement, which includes the northern African countries of the Maghreb region.

Statistics:

• Trade with Egypt has been under discussion for over five years.
• Egypt has been preparing for a free trade agreement by changing laws and regulations covering intellectual property rights, telecommunications, and information technology.
• The United States has been working to advance a possible free-trade agreement with Egypt for over two years, following President Bush's announcement of the Middle East Free Trade Agreement.
• The World Trade Organization is still pending on a case against the European Union, brought by the United States back in the early 2000s.

Sources:

• Statement by Scott McClellan, White House spokesman.
• Interview with Egyptian Prime Minister Ahmed Nazif after his White House meeting with President George W. Bush.
• Remarks by President Bush during the White House meeting with Prime Minister Nazif.
• Anonymous sources within the White House and Egyptian government.