U.S. and Israel approved the expansion of Qualified Industrial Zones

According to Mahmoud Eissa, Egyptian Industry and Foreign Trade Minister, U.S. and Israel approved the expansion of QIZ
 
Mahmoud Eissa Egyptian Industry and Foreign Trade Minister was quoted last week that Egypt received U.S. and Israeli approval to expand its Qualified Industrial Zones into the southern part of the country.
 
Qualifying Industrial Zones (QIZ) are designated geographic areas, within Egypt, that enjoy a duty free status with the United States. Companies located within such zones are granted duty free access to the US markets, provided that they satisfy the agreed upon Israeli component, as per the pre-defined rules of origin.
 
Minister 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.
 
He said textile exports from the zones, last year amounted to US$1.3 billion, an increase of about 10 to 15% from 2010. To operate from the QIZ, about 10% of a participating company’s product must originate from Israel.