Egypt-Israel Trade Exchange Hits EGP 178 Mln In 2012

The Trade exchange between Egypt and Israel in the textile products has hit around EGP 178 million during the period that started from January till August 2012, witnessing a slight fall-off opposed to the same comparable period of 2011.

Official sources from Egypt’s Ministry of Industry and Foreign Trade told Amwal Al Ghad that Egypt’s imports from Israel in 2012 has reached around EGP 150 million including EGP 147 million as yarns and woofs alongside EGP 3 million as ready-made cloths from Tel Aviv.

Egypt’s imports from Israel of yarns and woofs are used as inputs during the making of ready-made cloths which are exported to the USA as pursuant to the Qualifying Industrial Zones (QIZ).

The sources also added that the total volume of the trade exchange between the two countries in the textile sector includes EGP 28 million, representing the value of the Egyptian exports to Israel. Egypt’s exports to Israel include EGP 15 million of Egyptian ready-made clothes, EGP 12 million of locally-made yarns and woofs and EGP one million of linen.