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Economics & Development | Global Arab Network
Mercosur - Egypt signs free trade zone agreement with Argentina, Brazil, Paraguay & Uruguay
Global Arab Network - - Rabih Serrai
Saturday, 31 July 2010 10:40
Mercosur - Egypt signs free trade zone agreement with Argentina, Brazil, Paraguay, Uruguay & Venezuela
Egypt will attend the Mercosur summit in Argentina on August 3 as a member. This will be the first time for the group to approve membership of a non-Latin American state.

On the sideline of the summit, Egypt and the other Mercosur members will sign a free trade zone agreement.

Egyptian Minister of Trade and Industry Rashid Mohamed Rashid started on Friday a key Latin America tour, including Argentina and Brazil , during which he will attend the summit.

During the tour, Rashid will hand over messages from President Hosni Mubarak to the leaders of Argentina , Brazil , Paraguay , Uruguay , Chile and Venezuela who will take part in the Mercosur group summit alongside other Latin American heads of state.

Rashid will hold intensive talks with senior Argentine and Brazilian officials and businessmen on means of tapping new markets for Egyptian products in Latin America .

The Egyptian minister said his tour is meant to promote trade and investment cooperation with Argentina and Brazil within the framework of his ministry's strategic plan to double Egyptian exports to 200 billion EGP by 2013.

Mercosur - The following countries are full members, in the process of becoming full members, associate members or observers:
Full members

* Argentina
* Brazil
* Paraguay
* Uruguay

Associate members

* Bolivia
* Chile
* Colombia
* Ecuador
* Peru

Observers
* Mexico

(SIS)

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