Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Egypt, South Africa pledge to deepen development cooperation at G20 meeting    Egypt's PM orders road maintenance review, tougher penalties to curb accidents    Egypt, Novartis explore expanding collaboration in oncology, cardiology    Iran launches mass deportation of Afghans amid spying allegations    EU, China agree on rare earths, climate but divisions remain on trade, Ukraine    Association of Real Estate Developers seeks urgent meeting over threatened land deallocation on Northwest Coast    Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment    Over 60 million visits recorded under Egypt's Women's Health Initiative since 2019    Culture minister launches national plan to revive film industry, modernise cinematic assets    Thailand, Cambodia clash on new front as tens of thousands flee    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    UK pay settlements stagnant amid inflation surge    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt to add three areas to QIZ zones
Published in Daily News Egypt on 22 - 11 - 2009

CAIRO: Egypt is looking to add three more areas to the QIZ zones it has with the US, reported Reuters, citing Minister of Trade and Industry Rachid Mohamed Rachid.
The government wants to expand the number of Qualified Industrial Zones (QIZ) to the southern governorates, Rachid said; but textiles, one of Egypt s largest industries, would not be part of the zone expansion.
We are focusing on a lot of other products that could benefit from free trade conditions with (the) United States, including food, leather products and electronics, he said.
The QIZ agreement is between Egypt, Israel and the United States. It was implemented in 2005, allowing Egypt to export from the zones to the United States free of tariffs and quotas as long as a certain percentage of Israeli goods are used.
Annual trade between the two countries reached $8.4 billion in 2008, doubling in the last four years, Rachid said, adding that he hoped it would double again in another four years.
Rachid, who is meeting with investors and corporations in New York to encourage them to invest more in Egypt, is due to meet with US trade officials in Washington this week.
There are currently over 16 areas designated as QIZ areas from which duty free exports are allowed to the US.
In its daily market report, Beltone Financial said, "We believe an expansion of focus to non-textiles industries in the new QIZ areas would be a positive step that would allow the government to attract more investments to these industries and increase economic activity in Upper Egypt. -Daily News Egypt


Clic here to read the story from its source.