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Tuesday, 10 September 2019

Egyptian QIZ exports record USD 587 mn in 7M2019

Egypt’s exports from Qualifying Industrial Zones (QIZ) increased 14.4% to USD 587 mn in 7M2019 and are expected to end the year at USD 1 bn for the first time since 2011, according to a local press report. The y-o-y increase comes on the back of a rise in textiles and readymade garment exports, which made up 97% of the total figure, head of the Trade Ministry’s QIZ unit Ashraf El Rabie told the newspaper. Participants in the QIZ agreement, which Egypt signed with Israel and the US in 2004, enjoy access to the US market without tariffs provided they meet a minimum required amount of Israeli content.

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