Egypt-Mercosur FTA to come into effect before end of 2017 -sources

Egypt’s freetrade agreement with Mercosur countries will come into effect before year’s end, unnamed Trade and Industry Ministry officials tell Al Masry Al Youm. The agreement, which was meant to take effect in August, is expected to lower prices within various sectors, including auto manufacturing and food production, the sources added. The agreement also covers industrial supplies and auto parts, reducing some tariffs by up to 60% for a 10-year period, which worries some local manufacturers of the goods about future competitiveness.