Egypt demands lower Israeli QIZ share

Egypt's Industry and Foreign Trade Ministry has once again demanded the US and Israel reduce Israel's share in Egyptian products under the Qualifying Industrial Zones (QIZ) protocol. Officials hoped to bring down the market share from 10.5 percent to eight percent. Minister Hatem Saleh said Egypt would maintain all trade agreements signed under ousted President Hosni Mubarak, excluding the QIZ, hoping to bring the protocol in line with current requirements of Egyptian markets and industry. "With the exception of introducing Egyptian products into the American market," Saleh said, "the QIZ protocol has not been beneficial." A lack of restrictions on Israeli imports had “caused confusion in trade,” he added. All three parties are currently under discussion over negotiations in the QIZ.