The cuts include reductions of 62.5% and 50% on Category C and D goods which amount to 3,400 items 3,500 respectively.
Cairo- Sep 1, 2020
Minister of Trade and Industry Nevine Gamea has announced a tariff reduction, as of September 2, on a total of 6,900 Egyptian goods exported to the countries of the Mercosur, including: Brazil, Argentina, Uruguay and Paraguay.
"The move is another of a range of facilitation procedures taken under the Mercosur preferential free trade agreement (FTA)," Gamea said, noting that the ministry fully exempted about 600 goods in September 2020.
Ibrahim al-Segginy, head of the Trade Agreements Sector, pointed out that the cuts include reductions of 62.5% and 50% on Category C and D goods which amount to 3,400 items 3,500 respectively.
Key items in Category C and D of the agreement include: textiles, engineering goods, glass and crystal, he added.
Since the agreement came into effect in September 2017, Egypt's exports to Mercosur have significantly increased, jumping 115% to $396 million last year, up from $184 million in 2017.