Cairo – Mubasher: The Egyptian Ministry of Trade and Industry has officially announced that it started the implementation of the free trade agreement (FTA) between Egypt and the Southern Common Market (Mercosur), which includes Brazil and Argentina, Uruguay, and Paraguay.
The agreement was activated on Wednesday in Argentina after Egypt and the Mercosur countries finished the ratification procedures, the ministry highlighted in a statement on Thursday.
The Egyptian trade ministry’s delegation took part in the first meeting of the joint committee of the FTA between Egypt and the Mercosur, which was held yesterday in Argentina’s Buenos Aires, the statement added.
Moreover, head of the Egyptian Commercial Service Office (ECS) Ahmed Antar said that this agreement will contribute to achieving balance in trade between both parties, which is mostly in favour of the Mercosur.
Egypt’s trade minister Tarek Kabil had previously stated that Egypt is considering the establishment of an Egyptian-Brazilian economic committee to reinforce mutual economic cooperation between both countries in different sectors.
