Israeli exports to Egyptian factories in the Qualified Industrial Zone between the two countries reached $14 million in the first quarter, the Ministry of Industry, Trade and Labor said Monday, following deliberations of the joint QIZ committee in Cairo this week.
The QIZ agreement, which allow Egypt to sell merchandise to the US with duty and tax reductions as long as they include an Israeli component, boosted Egyptian exports to the US for the quarter to $120m., the ministry reported, while exports for the full year 2005 stood at $500m.
From its establishment mid-February 2005, the number of participating Egyptian factories has grown 15% to 100.
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