Egyptian delegation to meet on QIZ

At the meeting, existing permits for Israeli-Egyptian industrial QIZ projects will be renewed, and new requests by binational projects will be approved, the ministry said.

By DANIEL KENNEMER
September 14, 2006 06:44

A delegation from the Egyptian Industry and Trade Ministry and Customs Authority will come to Jerusalem early next week for a quarterly meeting on joint Qualifying Industrial Zones with their Israeli counterparts, the Industry, Trade and Labor Ministry. At the meeting, existing permits for Israeli-Egyptian industrial QIZ projects will be renewed, and new requests by binational projects will be approved, the ministry said. Signed in 2004, the agreement allows Egyptian manufactured goods integrating an Israeli component of at least 11.7 percent of the finished product's value to be exported to the US duty-free. Due to the pact, Israeli exports to Egypt more than tripled to $93 million in 2005 from $29m. the year before. A similar pact was signed with Jordan in 1997.


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