Mercosur Egypt Free Trade Agreement

Egypt is considered the first Arab and African country to sign this important agreement with Latin American countries, which will open up new markets for Egyptian exports. At the same time, it will strengthen Egypt`s export competitiveness, particularly in the markets of Argentina and Brazil, which are considered major emerging economic powers in the world. Michael Gamal Kaddes, Director General of Bilateral Trade Agreements at the Egyptian Ministry of Trade and Industry, discussed Egypt`s export potential. He said the key sectors related to the Mercosur agreement were pharmaceuticals, machinery and mechanical equipment, building materials, metal products and food preparations. Ezz said the Egyptian economy was good, with an increase in gross domestic product (GDP) and foreign trade. “We are one of the handfuls of countries in the world whose exports are increasing” – by 2%, he said. The Egyptian Trade Service (ECS) organized a virtual symposium to maximize the benefits of the free trade agreement signed in 2017 between Egypt and Mercosur, in the presence of Fernando R. Royo, Uruguay`s ambassador to Cairo-Uruguay, who is the real president of the bloc. ABCC President Rubens Hannun spoke of the progress made by the Agreement between Egypt and Mercosur and said the organization was available to support cooperation between the regions concerned. The webinar also saw Ashraf Moukhtar, head of the Agreements and Foreign Trade Division of the Egyptian Ministry of Trade and Industry. Yasser Korani of the Egyptian Trade Service (ECS).

Cesar Simas Teles, the agricultural attaché of the Brazilian Embassy in Cairo, listened to the discussions. There are several groups responsible for accurately monitoring and implementing Mercosur`s decisions and preparing studies. These groups specialize in many areas, such as trade, customs, industry, transportation and labour. About Mercosur It was founded in 1991 by the Treaty of Asuncion, which was later amended and updated by the 1994 Treaty of Ouro Preto. Its aim is to promote free trade and the fluidity of the movement of goods, people and currencies. Rubem Mendes de Oliveira, a ministerial adviser to the Brazilian embassy in Cairo, said Brazil`s sales to Egypt were important before the agreement, but that this had not been the case. “In three years, exports from Egypt have increased by more than 200%. Why so many? Because the basis of comparison was weak, but I don`t think many other countries in the world have increased their trade with a particular partner in three years. A framework agreement between Mercosur and Egypt, Argentina, signed on 7 July 2004 The agreement is an evolution of the framework agreement signed between Egypt and Mercosur on 7 July 2004 for the creation of a free trade area between the two parties, and he confirmed that Sao Paulo – A webinar this Sunday 20th looked at the Egypt-Mercosur Free Trade Agreement, which provides for a gradual easing of import duties to a number of posts and is currently in its fourth year.

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