QIZ agreement promotes import growth of Egyptian textile machinery

In December 2005, the Egyptian Minister of Industry and Foreign Trade signed the Qualified Industrial Zone (QIZ) agreement, alongside the Egyptian Prime Minister and U.S. Trade Representative Robert Zoellick, who attended the signing ceremony. The QIZ is a textile industrial park located in Egypt, allowing goods produced in the zone to be exported duty-free to the United States. This agreement marked the first step toward establishing a Free Trade Agreement (FTA) between Egypt and Afghanistan. As a result, more Finnish exports are expected to benefit from this growing trade relationship. To support the expansion of its textile industry, Egypt has been actively working to upgrade existing factories and increase production capacity. This effort has led to a surge in demand for imported textile machinery. In response, the Egyptian government waived all import tariffs on textile machinery starting January 2005, aiming to boost export growth and strengthen the sector’s competitiveness. With many buyers actively seeking opportunities in the textile machinery market, the 9th ITCE Cairo 2005 hosted a Buyers Forum specifically for the Egyptian and Jordanian markets. The event, held in Cairo from May 12 to 15, 2005, was the 9th International African Arab Textile, Embroidery, and Sewing Equipment Exhibition and Forum. It invited companies from the QIZ Industrial Zone and surrounding areas to participate, creating a platform for global suppliers and local buyers. Egypt’s growing interest in importing sewing machinery has drawn attention from manufacturers worldwide. The 9th ITCE Cairo 2005 was the largest exhibition of its kind, offering a valuable platform for trade cooperation and business development. Through the QIZ initiative, the Egyptian textile industry aims to export $400 million worth of goods over the next five years, opening up new opportunities in the U.S. market. Cabinet spokesman Magdi Radi noted that the U.S. delegation, led by Republican Senator Robert Ney, has established strong regional-level relationships with the Egyptian government. The QIZ agreement was presented as a key step toward a broader FTA with the United States. According to the Egyptian government’s investment and foreign trade departments, several new industrial zones will be developed in the near future under the QIZ framework. This initiative is expected to drive economic growth, boost exports, attract foreign direct investment, and create thousands of new jobs. Local textile manufacturers estimate that the QIZ could generate over 250,000 employment opportunities. The Textile and Clothing Agreement (ATC), part of the General Agreement on Tariffs and Trade (GATT), officially came into effect on January 1, 2005. From that date, textile import quotas for developing countries were abolished, making the establishment of a free trade zone a crucial strategy for attracting foreign investment in Egypt. The QIZ is expected to significantly expand domestic textile exports in the next two to three years, while also generating over 250,000 jobs and encouraging more foreign investors to set up operations in various sectors across Egypt. The chairman of the American Chamber of Commerce in Egypt highlighted that exporting textiles to the world’s largest market would not only create more jobs but also stimulate economic growth and improve living standards in the country.

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