ICEC

Egypt’s Delegation Discusses the File of “QIZ” in Israel

An Egyptian Commercial delegation has left Cairo to Israel for the purpose of finding solutions for problems faced by the two countries, regarding the free industrial mutual zones agreement – known as QIZ- , as the importance of this issue illustrates the reason being  the delegation’s visit to Israel, which is the visit after the 25th of January revolution.

A member of the delegation stated that problems hindering Egyptian-Israeli-American cooperation; will be discussed during their visit, and he added that discussions will focus mainly on the “QIZ” agreement and the available opportunities of conducting ne projects that provide new employment vacancies, as well as new markets for the Egyptian products.

To be mentioned that Egypt, US, and Israel have signed in December 2004 a protocol that is known as qualified industrial zones “QIZ”, which indicated arrangements permitting the Egyptian products to have access to the American markets without customs or defined shares; under the condition of including 7.11% -at max- Israeli components within these products, then in October 2007 a new agreement was signed between Egypt and Israel to decrease the percentage of Israeli components to be just 5.10%, as MENA stated.

Target of QIZ was opening the door to the Egyptian exports to have access to American market – which consumes 40% of the global consumption- without the restrict of shares system.

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