Qiz Agreement Between Egypt And Israel

For more information, including the text of the QIZ agreements and related documents, see these links: Jordan, Egypt Qualifying Industrial Zones (QIZ) are industrial parks where production sites are operated in Jordan and Egypt. These are specific free trade zones created in cooperation with neighbouring Israel to use free trade agreements between the United States and Israel. In accordance with U.S. trade agreements with Jordan, products manufactured in QIZ-declared areas may, under certain conditions, directly access U.S. markets without tariff or quota restrictions. To qualify, products manufactured in these areas must contain a small part of Israeli law. In addition, a minimum value of 35% of the product must be added to the final product. [1] The concept was invented by Jordanian businessman Omar Salah. Salah has set up a limited company, Century Investments. Many Jordanian organizations have criticized Salah for his business with Israel and boycotted the purchase of production in Jordan. Despite strong criticism, Salah received the tacit support of King Abdullah of Jordan. [5] To combat the boycott, Salah began working with multinationals with a larger international share. He then actively engaged with the Jordanian government to conclude a free trade agreement with the United States under the U.S.

Trade Free Zone of Israel in 1985. Given the lack of enthusiasm of the Jordanian government, which was under scrutiny, Salah examined the proclamation of the President (No. 6955), which was part of the 1993 Palestinian agreement between the Palestine Liberation Organization and Israel. The agreement designated the border areas between Israel and Jordan as “qualifying industrial zones” and the products produced here do not have tariff and quota restrictions for U.S. markets. The Hassan Industrial Zone in Irbid, where Salah had factories, was far from adjacent areas and was not eligible for QIZ status. “This is the most important economic agreement between Egypt and Israel in two decades,” Zoellick said. “This is the concrete and practical result of President Bush`s plan to strengthen U.S.

trade relations with the Middle East to strengthen the development, openness and peace of economic relations between Israel and its neighbors. These industrial zones will create a daily opportunity to establish commercial and personal relations between Egyptians, Israelis and Americans. Our successful experience with Jordan suggests that the creation of QIZ in Egypt will significantly increase trade, encourage investment and create hope. In 1996, the U.S. Congress authorized the designation of Qualified Industrial Zones (QIZs) between Israel and Jordan, as well as Israel and Egypt.