The US and Egypt have signed a "Plan for a Strategic Partnership" to develop bilateral trade and investment
US and Egyptian officials signed agreements Wednesday aimed at strengthening trade and investment links between the two nations, a move that comes a week ahead of a trip to Egypt by US President Barack Obama.
Egypt has never been a major trading partner for the US, and after a Free Trade Agreement between the two failed to get off the ground during the previous two administrations, the question now is whether Obama’s team will be open to new negotiations or whether Egypt should focus its efforts more narrowly.
Last week, the Mercosur submitted a free trade agreement negotiation proposal to the Egyptian government. The draft document, containing the broad lines for a treaty, was handed over by a delegation from the South American bloc to Cairo
Saudi Arabia has unveiled plans to develop large-scale overseas agricultural projects to secure food supplies, revealing that Riyadh is in discussions with Ukraine, Pakistan, Sudan, Turkey and Egypt.
Spain has expanded its presence in Africa by recently signing trade agreements with Egypt and the Democratic Republic of the Congo (DRC). The agreement with Egypt includes regular bilateral summits similar to Spain’s annual meetings with Morocco, Algeria and Tunisia. Both agreements will facilitate the entry of more Spanish companies into Africa.
Egypt on Tuesday said it would explore the possibility of a Free Trade Agreement with India to boost trade and investment between the two countries.
The deal allows Egyptians to export to the US tariff-free as long as they use a certain percentage of Israeli goods. The US initiative is intended to foster peace through trade. Qiz’s impact on thawing the political relations is questionable. But, for Egyptian garment producers, it has meant a chance to stand up to the competition posed by Asian producers.
Egypt and Israel have agreed to reduce the percentage of Israeli components that must be included in Egyptian-made products that receive duty-free status when exported to the United States
The impact of the Qualifying Industrial Zones — a concept proposed by the United States in 1996 to bolster cooperation between Jordan and Israel after the Jordan-Israel peace agreement was signed in 1995 — remains, after 10 years, difficult to determine. In spite of the tremendous growth of exports to the US market through these zones, QIZs continue to receive mixed reviews and their future is uncertain. Most importantly, the impact of the QIZs on the peace effort has been insignificant, to say the least.
The next time your Wal-Mart sweatpants read “Made in Jordan QIZ” on the label, consider the relationship between economic integration and peace. The truth might not be what you expect.
US Commerce Secretary Carlos Gutierrez said on Thursday he believed Egypt and the United States were destined to negotiate a free trade agreement, reviving hopes of a deal dashed many times.
The 3rd EU-Egypt Association Council has adopted the EU-Egypt Action Plan under the European Neighbourhood Policy which will set the agenda for the EU-Egypt cooperation for the next 3-5 years. With the adoption of this Action Plan, Egypt and the EU agree to enter into intensified political, security, economic, trade, investment, scientific, technological and cultural relations.
The issue of an Egyptian-American free trade agreement figured prominently on the agenda of talks between Egyptian Minister of Trade and Industry Rashid Mohamed Rashid and US Deputy Secretary of Commerce David Sampson last week.
Switzerland and its fellow European Free Trade Association (Efta) members have signed a free trade agreement with Egypt. A statement also announced that Efta ministers had met the Indonesian trade minister with a view to concluding a similar accord.
Pakistan and Egypt on Friday decided to start negotiations for Free Trade Agreement (FTA) between the two countries to promote trade and economic activities.
A free trade agreement is scheduled to be signed between Egypt and the European Free Trade Association (EFTA) on Saturday in Davos.
"We do not need a free trade agreement with the UAE as there is already the Pan-Arab Free Trade Agreement (PAFTA), which we will implement," Prime Minister Dr Nadeef said. PAFTA is an agreement to establish a pan-Arab free trade area by 2008.
Egypt will be ready to create free trade area with Europe in three years, announced prime minister Ahmed Nazif. The Arab country already has a tariff preference agreement with the EU, but it does not include all products traded.