Mercosur Egypt Free Trade Agreement

It pointed out that tariffs on about 600 Egyptian exports to Mercosur, in Category B of the agreement, have been abolished, including agricultural and processed products, building materials, textiles and jam products. The free trade agreement with Mercosur offers Egypt many privileges: it is seen as an instrument to offer Egyptian exports more opportunities for access to Mercosur markets. Trade liberalization between the two sides will take place over a ten-year period, taking into account the fact that about 47% of Egyptian exports to Mercosur countries will be exempt from tariffs after the agreement enters into force. The main exports are chemicals, technical products and textiles. The agreement is an evolution of the framework agreement signed on 7 July 2004 between Egypt and Mercosur in favour of the creation of a free trade area between the two parties and confirmed that michael Gamal Kaddes, Director General of Bilateral Trade Agreements of 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. Tamer Mansour, Secretary General of the Brazilian Arab Chamber of Commerce (ABCC), said tariffs on products such as plants, mineral oils, fast lime and cement had been removed as a result of the treaty. He also referred to the figures for trade between Egypt and Brazil. Mansour said that at one point, 38% bought Arab products, mainly food, textiles and decorative items. Commitment to promote international trade regimes in accordance with World Trade Organization rules. The agreement will lead to lower prices for agricultural raw materials. In 2010, MERCOSUR signed a free trade agreement with the Arab Republic of Egypt. Sao Paulo – A webiner on Sunday (20) looked at the Egypt-Mercosur Free Trade Agreement, which provides for a gradual easing of import duties on a number of jobs and is currently in its fourth year.

Host of the Federation of Egyptian Chambers of Commerce and the Department of Agreements and Foreign Trade of the Egyptian Ministry of Trade and Industry, the event saw Brazilian and Arab experts discuss the progress that has been made by the treaty. 2- The Common Market Group (CMG) The CMG is the executive body of Mercosur and is responsible for monitoring compliance with the Asuncion Treaty. The CMG sets up executive procedures to free up trade and coordinate economic policy. 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. Under the George Bush administration in 2003, the U.S. Trade Representative reportedly « punished » Egypt by suspending all openings of a free trade agreement when Egypt withdrew its support for a U.S. dispute with the European Union over trade in genetically modified plants at the WTO. This lasted until the end of 2004, when openings resumed. However, the United States froze talks on the free trade agreement after making accusations of fraud and corruption in Egypt`s December 2005 elections, which have not resumed since then. 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.

On 2 August 2010, MERCOSUR signed a free trade agreement with Egypt at the 39th Summit of MERCOSUR heads of state and associated countries. Establish clear rules for the future to promote the development of