FROM THE OFFICE OF PUBLIC AFFAIRS

April 1, 2005
js-2354

John B. Taylor, Treasury Under Secretary for International Affairs to visit Cairo, Egypt; Islamabad, Pakistan; and Okinawa, Japan

John Taylor, Treasury Under Secretary for International Affairs, will visit Egypt April 4-5.  He will meet with the cabinet's economic team including Finance Minister Boutros Ghali, Investment Minister Mohieldin, Trade Minister Rachid, and Central Bank Governor el-Okdah. He will also meet with American and Egyptian business leaders, visit a USAID-financed enterprise development project, and make a speech at the Egyptian Center for Economic Studies.

The visit provides an opportunity to discuss the market-oriented reforms being pursued by the Egyptian government and review the economic challenges facing Egypt. In particular, he will discuss the government's impressive initiatives to reduce trade barriers, increase exchange rate flexibility, improve the investment climate and reform the financial sector. He will also examine efforts to reduce the fiscal deficit, control spending, and boost the role of the private sector in economic growth.  All these measures are vital to producing the sustained, robust growth necessary to reduce unemployment and raise living standards.  Under Secretary Taylor's visit underlines the United States' support for Egypt's economy and especially for these reform efforts.

Under Secretary Taylor will visit Pakistan April 6-7.  He will meet with Prime Minister Aziz, Finance Advisor Shah, and State Bank Governor Husain.  He will also visit a microfinance project financed by the Asian Development Bank, and will meet with other development and finance experts in the country.  The visit highlights the strong US support for Pakistan's economic reform efforts, which helped Pakistan achieve strong economic growth in recent years.  The visit underscores our bilateral cooperation on important regional issues such as reconstruction efforts in Afghanistan, the G8 Broader Middle East and North Africa (BMENA) initiative, and global efforts to combat money laundering and financial crime.

Under Secretary Taylor will then travel to Okinawa, Japan, on April 8-10 to represent the United States at the Annual Meetings of the Inter-American Development Bank.  Further details on Under Secretary Taylor participation in these meetings next week.

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