ICEC

Egypt’s QIZ exports to U.S. hit $134 million in 2 months

Egypt’s exports to the U.S. under the Qualified Industrial Zones (QIZ) agreement registered around $134 million during January-February 2018, compared to  $124.9 million during the same period a year earlier.

The QIZ deal, implemented in 2005, allows Egypt to export from the zones to the United States free of tariffs and quotas as long as a certain percentage of Israeli goods is used.

The exports increased by 8 percent compared to the same period a year earlier, Ashraf Al Rabie, Head of the QIZ Division at the Egyptian Ministry of Trade, told Amwal Al Ghad.

In 2017, exports stood at $750 million, with an increase of 3 percent compared to 2016.

Egypt looks to boost its QIZ exports and expand the reach of the agreement to include leather and some food products to export within the current year, Al Rabie said.

Authorities in Egypt are negotiating with the United States to expand the QIZ areas into more governorates in Upper Egypt, he added.

Qualifying Industrial Zones in Egypt are currently located in six regions; Cairo, Alexandria, Suez, Central Delta, Minya, and Beni Suef, the Egyptian official stated.

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