In a joint appearance with Egyptian Foreign Minister Mohamed Kamel Amr after their first bilateral meeting on Wednesday, Secretary of State Hillary Clinton expressed \"our very strong support for Egypt\'s ongoing democratic transition.\" \"It is clear that Egypt\'s leadership in the Arab world and in the region and beyond is key to regional progress, and I was very pleased that Egypt has recognized the Transitional National Council in Libya,\" Clinton said during the State Department appearance. \"I think there is a lot of opportunity for cross-border cooperation.\" Clinton said she also was \"very pleased that the minister has reiterated Egypt\'s support for the Camp David Accords (with Israel), which is essential for stability and, of course, essential for Egypt\'s growth, prosperity and peaceful transition.\" \"We discussed a number of our joint priorities, and I would like to recognize the work of the Supreme Council of the Armed Forces, which has been an institution of stability and continuity,\" she said. The Egyptian people look to the Supreme Council to support the transition and to ensure that the elections go in a very positive way that provides transparency, freedom and fairness, she added. US officials are looking forward to the Egyptian parliamentary elections this fall, the upper house in parliament, then the presidential elections to follow, Clinton said, adding, \"but we are well aware, having been working at our own democracy for over 230 years, that this takes time.\" \"This takes persistence and patience, and it is often hard to have the latter in a time when there is so much pent-up demand and hope for a better future,\" Clinton said. \"So we look to being a strong partner for the Egyptian people. \" US officials are also looking to implement, through the US Congress, the USD 1 billion debt swap that President Barack Obama announced in May, she said. \"Rather than making interest payments on a debt, the Egyptian people can invest that money into new projects that create jobs and give them a better standard of living,\" she added. US officials also are working on launching a network of community colleges in Egypt that would provide training for Egyptians to be able to take advantage of investment opportunities, Clinton said. Egypt has the largest market and the largest workforce in the Arab world, she noted. \"In fact, Citibank released a study earlier this year suggesting that with smart investment in its people and its political and economic systems, Egypt could become one of the top ten economies in the world,\" she said. \"So we are going to be focused on trade, investment, on the new Middle East Trade and Investment Partnership, to help Egypt gain even greater access to global markets,\" Clinton said. \"The Enterprise Fund that we are seeking to establish, the ongoing work of the Overseas Private Investment Corporation, are all intended to provide support for what Egyptians themselves are doing.\" Amr noted that Egypt is in the middle of a transitional period. \"During this period, we look forward to the solidarity and goodwill of all our partners,\" he said. Bilateral issues were paramount in their discussion, \"but we also touched upon regional issues,\" Amr said. \"We believe that negotiations should resume as soon as possible between Israelis and Palestinians with clear terms of reference and with a clearly defined timeline. Israeli illegal settlement activities continue to be an impediment in the road for peace, and we would like to see them stop. \" The region is going through \"deep change and delicate times,\" he said. \"Egypt and the United States will need to continue to work hand in hand in order to ensure that our peoples benefit from the opportunities that these changes bring.\"