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Egypt ratifies a Free Trade Agreement with MERCOSUR

Diplo News | 22 Jan 2013

Egypt ratifies a Free Trade Agreement with MERCOSUR

Deputy Spokesman for the Foreign Ministry Counsellor Nazih El-Naggary stated that during the meeting between the Ambassador of Egypt to Uruguay Sami Salem with the head office secretary of the Mercosur (The South American Common Market) at the organization’s permanent headquarters in Montevideo on 17 January, 2013, Egypt’s Ambassador delivered the original ratification document of the Arab Republic of Egypt on the Free Trade Agreement signed with the Mercosur on 2/8/2010 to the Secretariat of the organization.

The Ambassador confirmed Egypt’s keenness on completing the ratification procedures, despite the political conditions Egypt is going through since the January Revolution in 2011, the matter which emphasizes the importance Egypt attaches to developing closer cooperation and trade relations with the Mercosur member states.

Egypt is the first country of the signatories to the Convention that completed the ratification procedures. The terms of the agreement outline that it enters into force only after completing the relevant legal procedures in all signatory states.

Ambassador Sami Salem expressed Egypt’s aspiration that the free trade agreement with Mercosur would contribute - immediately after entering into force in the near future - to increasing trade volume and investments between Egypt and this important Latin American economic gathering, the matter which the Foreign Ministry is eager to contribute to effectively, and facilitate by all means.

 Fuente: Diplo News