Industrial zone founded in US-Egypt-Israel deal

The United States will designate a new Qualified Industrial Zone and expand two existing ones to strengthen Egyptian-Israeli trade and political relations, the US Embassy said in a statement Tuesday. Egypt signed a trade agreement with the United States and Israel last year to enable it to export Egyptian-made products to the United States duty-free as long as its products contain at least 11.7 percent input from Israel. A new zone to be created Egypt's central Nile Delta region north of the capital, Cairo, takes the number of so-called QIZs to eight, the statement said. Two existing QIZs in greater Cairo and Suez Canal will also be expanded.