Xinhua | January 24, 2007

Egypt, EFTA to sign free trade agreement Saturday

A free trade agreement is scheduled to be signed between Egypt and the European Free Trade Association (EFTA) on Saturday, a senior Egyptian official said on Tuesday.

Egyptian Minister of Trade and Industry Rachid Mohamed Rachid said that the agreement to establish a free trade zone between Egypt and the EFTA member states would be signed on the sidelines of the World Economic Forum, the official news agency MENA reported.

The EFTA, which groups Iceland, Liechtenstein, Norway and Switzerland, was established in 1960. Its member states have jointly concluded free trade agreements with a number of countries worldwide.

An Egyptian delegation will attend the Forum, which is due to open in Davos, Switzerland on Wednesday, to promote investment opportunities for Egypt and introduce the economic and political reforms that the Egyptian government is now implementing.