Published on : Feb 20, 2015
Another step taken towards even tighter relations the countries Egypt and Israel have agreed recently to double the amount of duty free textile exports dealt with the United States of America to 2 billion dollars within the next three years, according to the head at the Middle East desk, the Economic Ministry.
This plan came in to effect as these two countries have marked around 10 years of the United States. Also, qualifying the Economic Zone framework during a meeting held with senior Egyptian and Israelis officials. This meeting also marked the anniversary during a joint booth at the Magic apparel fair conducted in Las Vegas which is the worlds biggest during this week.
According to Bar, the addition that they have agreed to explore adding more industrial sectors in which there will be Egyptian and Israeli collaboration calls for a competitive advantage for plastics, foods, and other industries.
He also stated that there was an agreement which would contribute even more to the economy of Egypt and also of the Israel and allow peaceful relations between these two countries to exist.
Also, the QEZ program will permit Egyptian textile makers to allow sale of their products duty free in the United Sates which was as long as Israel continues its contribution of around ten per cent of their total value.
In addition, to the obstacles for further developing bilateral trade is the lack of an agreement held with the Palestinians also with the mostly hostile public opinion of Egypt has held toward Israel.