(Jerusalem Post) Atef Aziz and Vikash Yadav - An Israeli company, Delta Galil Textile Industries, has been engaged in profitable business in Egypt since 1995. The company began with 145 employees and now employs nearly 4,600 workers in the Nasr City Free Zone. Labor conditions are excellent and certified at EU standards in all areas, including overtime. Touring the factory, we could not help but notice that the workers exhibited a sense of dignity and joy about their work. Last year, Egypt and Israel signed a landmark economic accord, the Qualified Industrial Zone (QIZ) Agreement, that enables goods containing one-third Israeli inputs to be imported into the U.S. tariff-free. Yet in the current atmosphere, Israeli entrepreneurs face great hurdles in finding suitable Egyptian business partners. For the QIZ to bring sound results for Egypt and Israel, the political echelon must lead by example. As a symbolic gesture, President Mubarak should visit Israel, along with a delegation of leading businessmen, to temper the anxieties of the Egyptian business community and warm the cold peace. Atef Aziz is a Cairo-based business consultant with nearly two decades of experience on Wall Street. Vikash Yadav is an assistant professor of political science at the American University in Cairo.
2005-04-19 00:00:00Full ArticleBACK Visit the Daily Alert Archive