Egypt-Mercosur Free Trade Agreement meeting kicks off in Argentina

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Thu, 14 Dec 2017 - 01:46 GMT

Foreign Ministers of Mercosur, Argentina's Jorge Faurie, Paraguay's Eladio Loizaga, Brazil's Aloysio Nunes Ferreira and Uruguay's Rodolfo Nin Novoa pose with Sao Paulo's mayor Joao Doria during a media conference after a South American trade bloc Mercosur

Foreign Ministers of Mercosur, Argentina's Jorge Faurie, Paraguay's Eladio Loizaga, Brazil's Aloysio Nunes Ferreira and Uruguay's Rodolfo Nin Novoa pose with Sao Paulo's mayor Joao Doria during a media conference after a South American trade bloc Mercosur

CAIRO - 14 December 2017: A delegation from Egypt's Ministry of Industry and Trade participated Thursday in the first joint committee meeting of Egypt-Mercosur Free Trade Agreement, which was held in the Argentinian capital of Buenos Aires.

In a statement, the Egyptian delegation included Head of the trade representation of commercial offices Ahmed Antar, as the head of delegation, Chief Executive Officer at Export Development Authority Sherine El Shorbagi and representatives of the ministry.

Putting the agreement into force will contribute to the balance of trade between both sides, which is heavily in favor of the countries of Mercosur, and allow the Egyptian industrial sectors to enter the markets of these countries as soon as possible, Antar said.

He added that taking advantage of the implementation of the agreement's provisions will double the trade exchange volume and investments between both sides, noting that meetings between number of Egyptian and Argentinian companies were held to discuss cooperation at the premises of the Arab-Argentine Chamber of Commerce.

Director General of the chamber Walid Kadouri expressed the chamber's readiness to contribute to the promotion of the Egyptian exports to Argentina, pointing out that coordination with the Egyptian side will be done to specify the priority sectors, to be exported to Argentina.

The Mercosur is an regional bloc in Latin America, which includes Argentina, Brazil, Paraguay, Uruguay and Venezuela.

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