Israel, Egypt Near Trade Pact
Israel is poised to sign a free-trade agreement with Egypt and the United States this month, a pact that is expected to spur export growth and boost its ties within the region, the country’s trade and industry minister said Sunday.
Speaking at a business conference, Ehud Olmert said the agreement would be signed Dec. 14 in Cairo and would enable free trade among Egypt, Israel and the United States.
“It is an historic breakthrough since we signed the [1979] peace treaty” with Egypt, he said. “With the agreement we will be able to increase our exports to Egypt, which [at the moment] are worth tens of millions of dollars.”
Olmert said the agreement was similar to one it signed with Jordan this year. Olmert said that U.S. involvement would help Israel’s export potential.
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