U.S. Investments in Egypt Discussed by American, Egyptian Officials

Egyptian and American officials met yesterday at the Treasury to consider ways to attract U.S. investments in Egypt and to sound out the feasibility of Egypt’s request for $750 million worth of food grains from the U.S. Members of the American-Egyptian Joint Commission on Cooperation were also reliably reported to have discussed other economic problems while subgroups of the commission also met to discuss reconstruction of the Suez Canal, cultural exchanges, medical cooperation and scientific affairs.

The food items Egypt is seeking, and a list of other supplies, was submitted last week to Agriculture Secretary Earl Butz by Egyptian Ambassador Ashraf Ghorbal. A communique issued by former President Nixon and President Anwar Sadat in Cairo last June said the U.S. would give priority to Egypt’s need for agricultural goods.

Last week 19 American construction and engineering executives were in Egypt for three days of talks on the possibility of U.S. firms participating in Egypt’s development and reconstruction program. It was announced in Cairo that an American consortium is considering participating in a number of projects and agreed in principle to work on a proposal to carry out Egypt’s $700 million petrochemical industry.

GENEVA CONFERENCE ON THE AGENDA

Meanwhile, President Ford met today with Egyptian Foreign Minister Ismail Fahmy for a discussion of the Middle East situation. The President received the Egyptian diplomat in the Oval Office and they conferred later at a working luncheon at the White House in which Secretary of State Henry A. Kissinger participated. Kissinger and Fahmy have met several times during the week.

(A report from Jerusalem today quoted Foreign Ministry sources as saying that the Middle East peace conference in Geneva could reconvene in Nov. The sources indicated that this was being suggested in the current round of talks between American and Arab officials though no firm date has been set.)