USTR Robert Portman supports Middle East trade development efforts
02 Nov '05
3 min read
U.S. Trade Representative Rob Portman designated a new Qualifying Industrial Zone (QIZ) in Egypt and approved the expansion of two existing zones, according top the USTR website on October 31, 2005.
Actions by USTR Portman build on the December 2004 announcement of the first three QIZs in Egypt by the United State following the historic agreement between Egypt and Israel to cooperate in the establishment of these zones. QIZs allow for duty-free export to the United States of certain Egyptian goods that contain Israeli inputs.
“Egypt's and Israel's desire to expand their QIZs underscores the success of this program in fostering closer ties between the people, businesses and governments of these two key Middle East countries,” said Portman.
“These zones have helped to dramatically increase trade between Egypt and Israel, showing countries throughout the region the practical benefits of peace, cooperation and economic integration.
“Today's designation follows consultations with Congress and demonstrates President Bush's continuing commitment to strengthening U.S. trade relations with the Middle East and to encouraging growing ties between Israel and its neighbors. As with QIZs in Jordan, we expect the zones in Egypt to be a robust catalyst for promoting trade, economic growth and a positive and peaceful vision of the future."
The announcement will create a new zone -- the Central Delta QIZ -- and expand the existing Greater Cairo QIZ and Suez Canal Zone QIZ.
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