Free Trade Agreement Between United States And Egypt

The report argues that, despite several obstacles, it is in the interest of both countries to work quickly and resolutely on a comprehensive free trade agreement. An agreement would bring significant economic benefits to U.S. businesses and stimulate economic reforms in Egypt by attracting foreign direct investment (FDI), improving efficiency, improving domestic reform implementation and creating much-needed jobs. The benefits are manifold for both the United States and Egypt; and while trade and profit are certainly important, they represent only part of the most important potential benefits for both countries. CAIRO – Statements by the top U.S. diplomat in Cairo have renewed Egyptian hopes for the potential of a long-standing bilateral free trade agreement. The majority of U.S. negotiators interviewed for the report said that Egyptian exporters are not optimizing their use of what was essentially a gift from the United States to Egypt. However, Egyptian negotiators and exporters refer to their experience from a different point of view: they claim that the QIZ began as a wonderful idea, diligent with zeal. “The problem is that Israeli exporters understood that they had a linked market and that they continued to raise their prices. In the end, it became prohibitive for many Egyptian exporters – even though the goods were duty-free. 36 EFTA States are committed to providing economic cooperation and technical assistance to Egypt to facilitate the implementation of the agreement. This cooperation and support includes improving trade and investment opportunities and supporting Egypt`s efforts to ensure sustainable economic and social development.

They will focus on sectors facing particular challenges, as well as sectors that will generate growth and employment (Articles 34-36). There are also bilateral Memorandums of Understanding on concrete technical cooperation projects between Iceland and Egypt, Norway and Egypt, as well as Switzerland and Egypt. This is not to say that American officials do not speak to their Egyptian counterparts – on the contrary. However, in recent years, much of the hard work has been done by private companies that have tried to push the subject down a steep slope. Private companies in the United States and Egypt have expressed concern about their activities. (Private businessmen, however, maintain open channels of communication, including by trade organizations and chambers of commerce.) 35.

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