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| Egypt's Minister of Foreign Trade and Industry Tarek Qabil (Image: Daily News Egypt) |
Daily News Egypt- CAIRO: Minister of Industry and Foreign Trade Tarek Qabil discussed
opportunities to enhance trade and economic cooperation with the US during a
meeting with a delegation from the US state department.
The delegation
was headed by David Thorne, senior advisor to the US secretary of state.
Stephen Beecroft, the US ambassador in Cairo, also attended the meeting.
Egypt should
work on expanding trade, especially by increasing Egyptian exports to the US
market, Qabil said.
He further
pointed out that he discussed some of the obstacles that limit the access of
Egypt’s exports to the US market, particularly agricultural products and
textile industries. He further discussed curtailing barriers to the shipment of
cargo by air.
He further
reiterated Egypt’s demands regarding the Qualifying Industrial Zones (QIZ)
agreement, which include reducing the proportion of foreign component from
10.5% down to 8%, demanding that the US respond to these demands.
The demands also
include expanding the range of benefits from the agreement through the
introduction of new products in its framework.
Further, Thorne
said the US is committed to encouraging investment and economic development in
Egypt, as a means of strengthening bilateral relations, especially in the
fields of finance, trade and investment.
He noted that
the private sector in the US plays a vital role in the development of mutual
relations between the two countries.
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