Israel-Egypt trade grows
Egypt’s trade with Israel is expected to more than double this year.
An agreement that allows Egyptian goods made with at least 11.7 percent Israeli products to enter the United States free of customs duty is behind the 130 percent increase in Egyptian-Israeli trade, from $58 million in 2004 to a projected $134 million in 2005, according to figures from the Israeli Export Institute.
The United States brokered the Qualified Industrial Zone agreement this year to induce Egypt to take a more prominent role in the Palestinian-Israeli peace process once Israel withdrew from the Gaza Strip last summer.
An agreement that allows Egyptian goods made with at least 11.7 percent Israeli products to enter the United States free of customs duty is behind the 130 percent increase in Egyptian-Israeli trade, from $58 million in 2004 to a projected $134 million in 2005, according to figures from the Israeli Export Institute.
The United States brokered the Qualified Industrial Zone agreement this year to induce Egypt to take a more prominent role in the Palestinian-Israeli peace process once Israel withdrew from the Gaza Strip last summer.
posted by Hanan Elbadry at 1:12 PM
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