Egyptian QIZ exports record USD 472 mn in 1H2019

Egypt’s exports from Qualifying Industrial Zones (QIZ) increased 6.7% y-o-y to USD 472 mn in 1H2019, according to the local press. An unnamed source at the QIZ unit at the Trade Ministry said textiles and readymade garments made up 97% of the exports, while food and glass products comprised the rest. Participants in the QIZ agreement, which Egypt signed with Israel and the US in 2004, enjoy access to the US market without tariffs provided they meet a minimum required amount of Israeli content.