Egypt-East Africa business council seeks concluding free trade agreement with Tanzania

Egypt-East Africa Business Council discussed concluding a free Trade agreement between Egypt and Tanzania which asked to obtain customs duties exemption of 80 per cent, the same level approved until Tanzania's withdrawal from COMESA.

Chief of the Council Moustafa Al Ahwal said the two sides will consider, during the coming visit of Tanzanian Trade Minister due to be paid within a week, boosting the Egyptian maritime line which links the Red Sea's ports with that in East Africa

He added that Egypt and Tanzania are working for increasing the joint trade cooperation through signing a free trade cooperation agreement.

The agreement is meant to give the Egyptian exports to Tanzania a preferential status and customs privileges in a bid to facilitate access of Egyptian commodities into the Tanzanian market.

The value of Egyptian exports to Tanzania reaches $7 million and Egyptian imports from that East African country stand at $1 million, said Sayed Al-Bous,advisor to the Egyptian Minister of Foreign Trade.