U.S. TDA: Press Release: Egypt 09/20/04 - USTDA AWARDS TECHNICAL ASSISTANCE GRANT TO ADVISE ON SECURITY UPGRADES AT SOKHNA PORT

USTDA AWARDS TECHNICAL ASSISTANCE GRANT TO ADVISE ON SECURITY UPGRADES AT SOKHNA PORT

FOR IMMEDIATE RELEASE

CAIRO, EGYPT (September 20, 2004) – Earlier today, the U.S. Trade and Development Agency (USTDA) awarded an $83,256 technical assistance grant to Sokhna Port Development Company (SPDC) to review proposed security upgrades at Sokhna Port in Egypt. Dr. James Joy, Commercial Counselor at the U.S. Embassy in Cairo, and Mr. Ossama Al Sharif, SPDC President and Chief Executive Officer, signed an agreement conferring the grant on behalf of the U.S. Government and SPDC, respectively. Lion Associates LLC of Alexandria, Virginia, will provide the technical assistance and contribute resources toward its completion.

Sokhna, located south of the Suez Canal on the Red Sea, began commercial operations in 2002 as the first fully private port in Egypt. It serves the Cairo area via rail and road, as well as the growing Suez Special Economic Zone that is adjacent to the port. The port is also positioned to become a gateway for cargo between Egypt and Asia, as well as East Africa. USTDA support for this project will facilitate greater Egyptian and regional access to international markets, including the United States, by promoting secure trade lanes, technologies, and procedures that comply with increasing requirements for supply chain security.

The USTDA-funded study will examine a range of security enhancements and testing capabilities that are being considered to promote Sokhna as a secure and efficient regional port. If implemented, the enhancements will increase the possibility of Sokhna obtaining Container Security Initiative (CSI) designation by the U.S. Customs and Border Patrol under the Department of Homeland Security.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries. The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment. USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.

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