The Ministry of Trade and Industry has said that the Agadir Agreement had allowed Egypt to increase by 46 percent the volume of its trade exchange to the signatory countries.
Said Abdullah, head of the sectors of trade agreements and Foreign Trade announced that the Agadir Agreement increased the volume of trade exchange between Egypt and Morocco Tunisia, and Jordan to about US$270 million in 2013 compared to $126 million during the year 2011.
The agreement, he added, has also allowed the country to diversify exports to these countries’ markets.
Said noted that the Agadir Agreement is not only a free trade agreement but also an accord that achieves the industrial and economic complementarity between the four signatory countries and increases their export capacity to the European Union.
The Agadir Agreement is a free trade agreement between four Arab countries: Egypt, Jordan, Morocco and Tunisia.
Named after the Moroccan city of Agadir, where the process to set up the pact was launched in May 2001, the agreement was signed in Rabat in February 2004 and came into force in March 2007.
It aims at boosting trade between its member states, fostering economic development and integration through the implementation of rules of origin, and attracting EU and international Foreign Direct Investments (FDI).
