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Monday, 27 June 2016

Export council heads urge government to speed up free trade agreement with the UK

The heads of export councils have called for the government to speed up negotiations to sign an agreement to liberalize trade with UK, which would take the place of the agreement with the EU following the Brexit vote, Ahram reported on Sunday. The UK is likely to be busy with Brexit procedures which could slow down negotiations with Egypt, Export Council for Building Materials, Refractory & Metallurgy Industries Head Walid Gamal Eldin said, adding that the Agadir agreement will also likely need to be renegotiated. The devaluation of the GBP since the vote will make Egyptian exports more expensive, noted Khaled Abou Al-Makarem, head of the plastics section at the Chemical and Fertilizer Export Council.

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