Egypt News

Rashid Mohamed Rashid Egyptian Trade and Industry Minister

Egyptian Trade and Industry Minister Rashid Mohamed Rashid announced that the QIZ file is still with the ministry that is seeking to reach an agreement with the Israeli side to reduce the Israeli component in the Egyptian products that are exported to the US

Rashid denied reports about the file having been given to the American Chamber of Commerce (ACC) and to the Egyptian-American Business Council that will be formed soon.

Rashid said the Chamber and the Council will play an important role in the reformulation of the Egyptian-American relations on the basis of mutual interest and benefit, especially in light of the Economic Partnership Agreement that the two countries have signed in May, according to Egyptian Independent Newspaper Al-Masry Al-Youm

Egyptian and US diplomats said visits between the two sides will begin to discuss the Partnership Agreement.

An Egyptian diplomat said the fate of the QIZ file will be contingent on the outcome of the partnership negotiations. He expected that the file would not be on the agenda of the negotiations, but that more incentives and concessions would be added to it.

In a related development, the US Ambassador in Cairo Margaret Scobie said US President Barack Obama was seeking through his speech in Cairo for a new beginning between the United States and the Islamic world that would be based on mutual respect.

In a seminar entitled 'After Obama' that was organized by the Egyptian-European Council, Scobie said: "Many Egyptians have appreciated Obama's message."

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