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Egypt and Israel Discuss Industrial Trade Zone

(New York Times) Abeer Allam - Nearly a decade after an agreement first allowed for joint industrial areas where Egyptian goods with Israeli content can gain tariff-free access to the U.S., Egypt and Israel finally seem to be seriously considering the creation of so-called Qualifying Industrial Zones. "Egypt and Israel are working now on the fine details of a Q.I.Z. agreement," said Eli Shakad, the Israeli ambassador to Egypt. "The Egyptians understand it serves their national interests," he added. Under the Q.I.Z. legislation, a 1996 Clinton administration initiative, at least 11.7% of the value added to any goods produced in a qualifying zone must come from Israel. "You have to import from Israel in order to qualify," said Fahd al-Fanek, an economist in Jordan, a country also included in the legislation.
2004-03-19 00:00:00
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