Israel, Egypt And U.S. Sign Major Trade Deal Egypt Now Able To Export Tariff Free To U.S., If Israeli Components Or Equipment Are Involved Step Viewed As Another Sign Of Improved Relations Between Jerusalem and Cairo
In Cairo, representatives of Israel, Egypt and the U.S. have signed an important trade deal, which enables Egyptian exports to be marketed tariff-free in the U.S. The one condition is that they include twelve per cent of Israeli components. Israel’s Minister Trade, Industry and Commerce traveled to the Egyptian capital to sign the deal with his Egyptian counter-part and U.S. trade representative Robert Zoellick. Egypt expects to boost its American exports by hundreds of millions of dollars creating an estimated 250,000 new jobs.In the Egyptian capital, Olmert also met with President Hosni Mubarak, amid speculation that Cairo will soon return its ambassador to Israel.
Zvi Mazel, a former Israeli ambassador to Cairo, assessed the importance of the trade deal for Egypt and the region on IBA television. But first, the comments of Ehud Olmert and Robert Zoellik at the signing ceremony.