QIZs boost exports to Jordan, Egypt

Trilateral trade agreements involving Israel, Jordan, Egypt and the US boosted exports to Israel's two neighbors in the first five months of 2006 against the same period last year, the Industry, Trade and Labor Ministry said Wednesday.

Trilateral trade agreements involving Israel, Jordan, Egypt and the US boosted exports to Israel's two neighbors in the first five months of 2006 against the same period last year, the Industry, Trade and Labor Ministry said Wednesday. Exports to Jordan nearly doubled to $48.7 million from $25.2m. in the first five months of last year, while exports to Egypt grew 7.9 percent, to $53.1m. from $49.2m., the ministry said, attributing the bulk of the growth to two QIZ (Qualifying Industrial Zones) pacts. The agreements allow Jordanian and Egyptian manufacturers to export duty-free to the US if the product includes Israeli components accounting for 11.7% of its value if it is from Egypt and 8% from Jordan.