In a press conference Tuesday night, Rachid said, “Other companies were excluded as they could not qualify for the agreement requirements, which allow for duty-free exports to the US market only for products that include at least 11.7 per cent Israeli component.”
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The Ministry of Foreign Trade & Industry stopped receiving new application on Monday after three weeks when companies were illegible to apply for the QIZ.
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Signed between Egypt, the US and Israel two months ago, the agreement allows Egyptian companies in three major regions (Greater Cairo, Alexandria and Port Said) to join the QIZ as a step towards selling their goods customs-free in the US market.
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The number of companies joining the QIZ in Alexandria stood at 112; in Port Said, 45; while in the rest came from Cairo with 111 companies from the 10th of Ramadan City, 68 companies from Shubra al-Khaima, 37 companies in Nasr City, 11 companies in Badrashin, and 8 in the May 15 City.
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Some 355 of these companies produce textiles and ready made garments, with the remaining companies operating in the food, leather, marble and furniture industries.
Date:2/26/2005
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