Rasheed Mohamed Rasheed: Arab Free Trade Area in January won't affect Egypt industry
Regional-Egypt, Economics, 12/27/2004

Egypt's Minister of Foreign Trade And Industry Rasheed Mohamed Rasheed said full liberalization of commodities of Arab origin within the framework of the Arab Free Trade Area by January 2005 will not affect the Egyptian industry.

In statements Sunday on the occasion of full application of the Arab Free Trade Area as of next Saturday, Rasheed said there are great chances for the Egyptian products to benefit from ultimate abolition of customs duties on commodities of Arab origin.

He pointed out that a remarkable increase in Egyptian exports to Arab member states in the so far 17-member AFTA agreement can be achieved.

AFTA membership is expected to increase to 18, with Algeria's accession.

The minister said enforcement of the agreement on developing trade exchange among the Arab states and its executive program to set up the AFTA had started in January 1998 with gradual customs cuts, reaching 80% at present on commodities of Arab origin, adding by January customs will be totally removed on Arab exchanged commodities by virtue of the agreement.

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