Global Arab Network | Egypt signs free trade deal to increase exports to Latin American markets

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Egypt signs free trade deal to increase exports to Latin American markets

Wednesday, 04 August 2010 16:17

Egypt sign free trade deal to increase exports to Latin American markets

Egypt and Mercosur signed on August 3rd 2010 a free trade agreement. The deal provides preferential advantages for Egyptian exports to help them find their way to Latin American markets.

Under the agreement, the cost of some Egyptian imports will be decreased. Egyptian Minister of Trade and Industry Rasheed Mohamed Rasheed signed the deal in Argentina.

Rasheed said that the deal will be a bridge of communication between the Middle East and Africa on the one hand and Latin America on the other.

The agreement will open up vistas of economic cooperation between the two continents, said Rasheed.

In a word, he expected that the volume of trade exchange between Egypt and Mercosur countries will be doubled from the current 2.7 billion dollars.

Rasheed said Egypt looks forward to activating cooperation with Mercosur in all other economic fields as industry, technology and tourism.

This agreement will open new promising markets for Egypt’s exports and would enable Egypt to acquire its needs of foodstuffs, Rasheed added.
(SIS)

Global Arab Network

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Last Updated on Wednesday, 04 August 2010 16:28

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