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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (90663)	12/14/2004 9:17:55 PM
From: LindyBill	Read Replies (2) \| Respond to of 793717

Our textile industry will be screaming. Egypt, Israel Ink Trade Deal With U.S. By Molotov - Booker Rising It's the most significant trade pact between Egypt and Israel in the past 20 years. Israel hailed it as a potential economic boon that could bring US$150 million to Israel in its first year. Egypt says the deal could create 250,000 jobs in 2005, especially in the clothing and textile industry, which is the country's top export. The agreement, signed in Cairo, allows Egypt to export goods duty-free to USA, as long as a minimum percentage of the product is made in cooperation with Israeli companies. It establishes Qualified Industrial Zones in parts of Cairo, Alexandria, and Port Said where the goods are to be made. Some detractors oppose any sort of relations with Israel, and fear it gives too much economic control to Israel. They dismiss projected benefits to Egypt. Supporters argue that similar zones set up in Jordan have seen their exports to USA rise to $800 million a year in just five years. The Jordanian deal also created 40,000 jobs, in an economy that is much smaller than Egypt.