BRUSSELS, July 4 (KUNA) -- The European Union and Egypt have recahed a preliminary agreement to further liberalise trade in agricultural and fish products between the two sides.
This will form the basis of a future agreement, subject to completion of both sides' internal procedures, said a statement issued by the European Commission here Friday.
The agreement will give the EU free and immediate access to the Egyptian market for around 90 percent of agriculture and fish exports.
There will be full liberalisation for all products except tobacco, wines and spirits and pig meat, for which current arrangements will remain in place.
For confectionery, chocolate, pasta and bakery products, duties will be halved.
In return, the EU market will be liberalised for all Egyptian products except tomatoes, cucumbers, artichokes, courgettes, table grapes, garlic, strawberries, rice, sugar, processed products with high sugar content and processed tuna and sardines, where current arrangements will also continue to apply, noted the statement.
"I am delighted that we have been able to negotiate this deal, which will strengthen the position of European exporters on what is our most significant market in the Middle East region, declared EU agriculture Commissioner Mariann Fischer Boel.
EU exports to Egypt for the sectors involved reached almost 600million euro in the period 2005-2007, representing a positive balance for the EU compared to the value of Egyptian exports to the EU for the same period valued at 540 million euro.
Copyright Kuwait News Agency 2008.
