Saturday, March 5, 2011

For Israel, "everything is back on track!"

"(Reuters)- Egyptian factories that use products from Israel under a U.S.-sponsored trade deal have resumed work, overcoming disruptions caused by the power struggle in Cairo, an Israeli official said on Saturday.......Israelis worry ....
Gabby Bar, head of the Middle East department at Israel's Industry and Trade Ministry, said supplies to Egyptian factories had been halted during the February upheaval in Cairo, which saw widespread curfews, worker strikes, and bank and port closures."Everything is back on track," Bar told Israel Radio. He continued, saying "indeed, we are seeing today a desire by Egyptian firms which are very interested in continuing to operate in this manner, as it allows them to stand competitively in the American market, because they are selling with a full customs waiver." The Israeli-Egyptian cooperation, known as the Qualifying Industrial Zones (QIZ) deal, was instituted in 2005 and mirrors a similar accord between Israel and Jordan from the late 1990s. Bar said banking operations had yet to be fully restored in Egypt and that employees at some factories were still on strike...."

1 comment:

Anonymous said...

Not everything is back on track...


Resumption of Egypt natgas to Israel delayed again

Reuters

JERUSALEM, March 3 - Egyptian natural gas supplies to Israel are not likely to resume this weekend as previously expected, an Israeli partner in the East Mediterranean Gas consortium said on Thursday.

Gas from Egypt was supposed to begin flowing to EMG and Israeli clients on Friday. The pipeline was damaged in an explosion and subsequent fire last month.

http://sg.news.yahoo.com/rtrs/20110304/tbs-israel-egypt-natgas-955c2a1.html