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Qiz Agreement Egypt

Finally, an agreement was signed in 1997 at the Middle East and North Africa (MENA) conference in Doha for the conclusion of an QIZ agreement with Jordan. On 6 March 1998, the Al-Hassan area of Irbid was declared the first QIZ in Jordan. [4] In 1996, the U.S. Congress authorized the designation of Qualified Industrial Zones (QIZs) between Israel and Jordan, as well as Israel and Egypt. QiZ allows Egypt and Jordan to export products to the United States duty-free if the products contain inputs from Israel (8% in the Israeli-Jordanian QIZ agreement, 11.7% in Egypt`s QIZ agreement). The aim of this trade initiative was to promote prosperity and stability in the Middle East by promoting regional economic integration. After observing the positive economic results of the QIZ agreement between Israel and Jordan and observing the phasing out of textile quotas (WTO Agreement on Textile and Closing Products, ATC), which posed a major threat to the international competitiveness of the textile industry and confidence in Egypt, the Egyptian government decided to address the concerns of Egyptian producers and workers in the sector by negotiating a protocol. Salah has set up a limited company, Century Investments. Many Jordanian organizations have criticized Salah for his business with Israel and boycotted the purchase of production in Jordan.

Despite strong criticism, Salah received the tacit support of King Abdullah of Jordan. [5] To combat the boycott, Salah began working with multinationals with a larger international share. He then actively engaged with the Jordanian government to conclude a free trade agreement with the United States under the U.S. Trade Free Zone of Israel in 1985. Given the lack of enthusiasm of the Jordanian government, which was under scrutiny, Salah examined the proclamation of the President (No. 6955), which was part of the 1993 Palestinian agreement between the Palestine Liberation Organization and Israel. The agreement designated the border areas between Israel and Jordan as „qualifying industrial zones“ and the products produced here do not have tariff and quota restrictions for U.S. markets.

The Hassan Industrial Zone in Irbid, where Salah had factories, was far from adjacent areas and was not eligible for QIZ status. [4] Strengthened by the additional benefits of trade agreements with other markets, Egypt is ideal for offering countless economic benefits to industries in these areas. So far, the positive economic impact of QIZ has been such that foreign investors and Egyptian companies are constantly striving to establish and qualify their companies in these areas in order to increase their competitiveness and profitability. The concept behind a qualified industrial zone is attributed to Omar Salah, a Jordanian businessman. [4] In 1993, pending the Israeli-Jordanian peace treaty, Salah went to Israel to do business with Israeli businessmen. He also looked at commercial enterprises that benefited from the eight-year-old U.S.-Israel free trade agreement that allowed Israeli products to enter U.S. markets duty-free. Following the signing of the contract in 1994, a commercial project was concluded between Salah and Delta Galil, where workers were transferred to Irbid, in northern Jordan, to take advantage of low labour costs, which were 40-70% lower than those in Israel.


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