Palestine formally asked Egypt to join Agadir FTA – minister
Palestine has formally asked Egypt to join Agadir free trade agreement as part of efforts to boost trade with country members, Palestinian Economy Minister Khaled al-Osaily said on Wednesday.
The Agadir Agreement is a free trade agreement between Egypt, Jordan, Morocco, and Tunisia. Named after the Moroccan city of Agadir, where the process to set up the pact was initiated in May 2001, it was signed in Rabat in February 2004, came into force in July 2006 and implementation started in March 2007.
The agreement is open to further membership by all Arab countries that are members of the Arab League and the Greater Arab Free Trade Area, and linked to the EU through an Association Agreement or an FTA. Its purpose is to facilitate integration between Arab states and the EU under the broader EU-Mediterranean process, but it has other ramifications as well.
Since its ratification, the agreement has promoted industrial and economic ties, allowing for the co-production of products exportable to the EU, other Arab countries and, of course, to member states.