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Wednesday, 15 March 2017

Egypt reportedly asks Israel to solve a supply “crisis” with Disneyland Inc.

Did Disneyland cut off 28 Egyptian textiles exporters? Disneyland isn’t the happiest place on earth for Egyptian textiles exporters after reportedly canceling contracts with 28 of them. The stated reason? Egypt’s political and economic issues, according to government sources. These sources tell low-tier news outlet Masrawy on Monday that the government has requested that Israel intervene as these textiles, which bring in export receipts of some USD 150 mn per annum, are exported through the Qualified Industrial Zones (QIZ) agreement, which allows Egyptian products to enter the US, customs-free, as long as the products include at least 10.5% Israeli content. Color us skeptical until more details emerge, because well, it’s Masrawy.

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