Israel, Egypt to ratify trade agreements

In other news, PA asks Turkey to establish industrial zone in the West Bank; Abbas to visit Ankara.

October 9, 2007 04:27
1 minute read.
eli yishai looking sharp 298

eli yishai looking sharp. (photo credit: Ariel Jerozolimski)

Industry, Trade and Labor Minister Eli Yishai (Shas) will set out for Egypt Tuesday to meet with President Hosni Mubarak and with Egyptian intelligence head Omar Suleiman, Israel Radio reported overnight Monday. Yishai is also expected to sign a trade agreement with his Egyptian counterpart Muhammad Rashid regarding the addition of eight industrial zones in the south of Egypt to an accord regarding duty free export to the US. Since the beginning of 2007, Israel exported goods worth $78 million to Egypt, $8m. more than during the parallel period last year. Israel and the US accepted Cairo's request on Israeli ingredients included in fashion products made in Egypt and exported to the US. Egypt asked to reduce the percentage of Israeli ingredients, currently at 11.5 percent, to only 9.25%. Yishai is expected to sign an agreement to this effect in Cairo. In other news, Palestinian Authority Information Minister Riad al-Malki announced that PA President Mahmoud Abbas will leave for Ankara ahead of the US-sponsored planned peace conference in Annapolis, expected to take place at the end of November. Malki made the announcement at the end of Turkish Foreign Minister Ali Babacan's visit to Ramallah. The sides discussed a Palestinian proposal to Turkey asking it to establish an industrial zone in the West Bank.

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