Eight new companies join QIZ program

Eight new Egyptian companies joined the Qualified Industrial Zone (QIZ) program before the end of 2018, raising the number of participating companies to 1,004 from 996, local news reported. Egypt is trying to increase the number of exporting companies, said head of the Trade Ministry’s QIZ unit Ashraf El Rabie. QIZ exports increased 16% y-o-y to USD 730 mn in 10M2018 from USD 629.3 mn during the same period last year. Participants in the QIZ agreement enjoy access to the US market without tariffs, provided they meet a minimum required amount of Israeli content.