The Egyptian delegation is headed by Mr. Sayed El-Bus, top adviser to the Minister of trade and co-chairman of the Israeli – Egyptian joint QIZ committee
High ranking officials from the Egyptian Ministry of Industry and Trade & Customs Authority are expected to visit Israel this week for the quarterly joint QIZ committee to be held in Jerusalem.
The Egyptian delegation is headed by Mr. Sayed El-Bus, top adviser to the Minister of trade and co-chairman of the Israeli – Egyptian joint QIZ committee.
Egypt and Israel agreed on Dec. 14 2004 a trade/industrial co-operation deal. The two states and the US signed a protocol to set up seven Qualified Industrial Zones (QIZs), where goods would gain free access to US markets provided that 35% of their inputs comes from co-operation between Egyptian and Israeli companies - these constitute an advanced step towards a free trade pact between the US and Egypt.
Rules of origin for U.S. Imports of Products from QIZs:
1.The article must be wholly the growth, product or manufacturer of a QIZ or, if it
contains foreign materials, must be substantially transformed into a new or different
article of commerce in a QIZ.
2.The article must be imported directly from a QIZ.
3. At least 35% of the total value of the article must consist of the cost or value of the
materials produced in the QIZ, plus the direct costs of processing operations
performed in the QIZ (up to 15% of the total value of the article produced from
U.S.-made materials may count toward the 35% requirement).
Since the QIZ agreement came into force there has been sharp increase in israeli exports to Egypt mainly Israeli inputs to the Egyptian textile industry. In 2004 israeli exports totaled US$29 millions and in 2005 exports was up 300% to US$93 million.
