Cairo – Mubasher: Egypt’s exports under the Qualified Industrial Zone (QIZ) protocol jumped by 17% year-on-year, sources at the QIZ unit of the Egyptian trade and industry ministry said.
Total exports conducted through the QIZ protocol recorded $878 million last year, up from $751 million in 2017, Alborsa News reported, citing the sources.
The sources highlighted that textile and ready-made clothing exports have made up the largest stake of total Egyptian exports under QIZ by 93% at a total value of $816 million.
Egyptian exports under QIZ amounted to around $9.7 billion since the signing of the protocol with Washington and Tel Aviv in 2004.
Upon the QIZ agreement, Egypt is allowed to exports its products to the US without paying customs as long as the products contain a percentage of Israeli components.