Current Edition About Subscribe The Jerusalem Center

Daily Alert Archive

Every Daily Alert Since 2002

Search

Search more than 90,000 news items by topic, author, or source.
Use " " to search for multiple words and phrases.

Trending Topics

January 27, 2006       Share:    

Source: http://www.washingtonpost.com/wp-dyn/content/article/2006/01/24/AR2006012400747.html

Israel-Egypt Trade Soars on U.S. Deal

(AP/Washington Post) Jasper Mortimer - When Washington first offered to introduce an element of interdependence between the Israeli and Egyptian economies, Cairo balked. But a little over a year ago, Egypt did accept the deal and it has been impressed, not to say astounded, by the impact on its No. 1 manufacturing sector, the garment industry: thousands of jobs created, higher wages, and soaring exports to the U.S. Figures from the Israel Export Institute show that trade between Egypt and Israel, dominated by goods for the garment sector, rose from $58 million in 2004 to $142 million in 2005, a whopping 144% increase in only one year. Wages in Egypt's textile and garment industry have risen 25% since December 2004, when Egypt, Israel, and the U.S. signed the Qualified Industrial Zone agreement, according to Mohammed Kassim, the vice chairman of the Egyptian Chamber of Textile Industries. At least 15,000 jobs have been created, with 30,000 more to be created this year.

View the full edition of Daily Alert

Back to Archive

Subscribe to Daily Alert: