Egypt received U.S. and Israeli approval to expand its Qualified Industrial Zones into the southern part of the country, Industry and Foreign Trade Minister Mahmoud Eissa said today.
Eissa said in an interview in Cairo that a U.S. trade delegation is slated to visit the country in the first half of April to discuss the expansion of the areas commonly known as QIZs.
He said textile exports from the zones, in which companies are granted duty free access to U.S. markets, last year amounted to $1.3 billion, an increase of about 10 to 15 percent from 2010.
To operate from the QIZ, about 10 percent of a participating company’s product must originate from Israel.
To contact the reporter on this story Abdel Latif Wahba in Cairo email@example.com
To contact the editor responsible for this story: Riad Hamade in Dubai at firstname.lastname@example.org