Cairo – Mubasher: Egypt is looking to export commodities worth $900m to the US through the Qualified Industrial Zone protocol (QIZ) by the end of this year.
Ready-made clothing and textile make up 98% of goods exported under the QIZ agreement, head of the QIZ unit at the Egyptian trade ministry Ashraf El Rabiey said.
These exports are exempted from customs fees when they enter the US as long as they contain an Israeli component of 10.5%, El Rabiey pointed out.
The unit seeks to apply the agreement by adding more countries and new products, such as footwear, leather products, and food industries, to the agreement, according to Amwal Al Ghad.
Former trade minister Tarek Kabil previously said that Egypt-US bilateral trade rose by 13% year-on-year in 2017, recording $5.6 billion from $4.97 billion.
