July 21, 2010
Egypt-Mercosur FTA to exclude poultry
For the free trade agreement with Mercosur, Egypt has asked for poultry products and other food commodities to be excluded from a list of sensitive products on which duties will be reduced.
The signing agreement is scheduled at the end of this month at the Mercosur summit in Buenos Aires.
A Ministry of Trade and Industry official said that an agreement has been reached with Mercosur on setting five categories for commodities and products. The first category, which includes intermediate goods and raw materials, will be free of duties once the agreement enters into force; the second group will be freed over four years; the third, over eight years; and the fourth, over 10 years. There is still no agreed time period for the fifth group, which includes sensitive products, due to fears of negative effects on local industry. â€
Egypt and Morcosur has reached US$1.4 billion worth trade in 2009. Egypt's main imports include poultry, soy and meat.
