Magdy Tolba, Chairman of Cairo Cotton Center & the head of Egypt’s ready-made garment export council, blamed Israel last week for delaying measures to cut down the Israeli component requirement by one percentage point from 11.7 percent to 10.7 percent .. According to Tolba Israel’s Prime Minister Ehud Olmert during his latest visit to Egypt had agreed to reduce the component requirement in the QIZs agreement. . . Magdi Tolba expressed fears that Israeli components producers would fail to meet the requirement in view of the fast growth in the Egyptian textiles industry with influx of international investors. . . Source: port2port.com He pointed out that his council had received complaints about the Israeli failure to meet the component requirement under the QIZs agreement. Ehab Al-Messiri, a director of the Textiles Industries Chamber in Egypt, urged for continued pressures to curb thecomponent requirement to 7 percent in line with the qualified industrial zones in Jordan.
Date:5/21/2007
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