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Wednesday, 7 November 2018

Egypt looking to export USD 1 bn under QIZ program in 2019

The Trade and Industry Ministry is aiming to increase exports under the Qualified Industrial Zones (QIZ) program to USD 1 bn in 2019, head of the ministry’s QIZ unit Ashraf El Rabie told Amwal Al Ghad, adding that the QIZ unit is targeting USD 850 mn in exports by end-2018. Exports to the US under QIZ registered c.USD 591 mn at the end of August, El Rabie said. He had previously said that the unit was targeting USD 900 mn by the end of the year. Ready-made garments account for some 98% of QIZ exports, which enjoy tariff-free access to the US provided they meet a minimum required amount of Israeli content. Egypt and the US have been in talks to include tech products and leather-made goods in the QIZ program.

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