The Free Trade Agreement between EFTA – Iceland, Liechtenstein, Norway and Switzerland – and Egypt, entered into force on 1 August 2007. A launching seminar was held for the treaty in Cairo on 10 September 2007.
04/10/2007 :: At the launcing event, speeches were held by amongst others the Egyptian Minister of Investment, Mr. Mahmoud Moheieldin, Norwegian State Secretary Mr. Frode Berge of the Ministry of Trade and Industry and the Deputy Secretary General of EFTA, Mr. Dider Chambovey. Around 450 people attended the launching event, mostly representatives from the business sector.
The Free Trade Agreement covers trade in industrial products, including fish and other marine products, and processed agriculture products. The main objective of the Agreement is to achieve the liberalisation of trade in goods in conformity with Article XXIV of the GATT 19994. By 1 January 2020, customs duties on almost all industrial products will have been eliminated.
The Agreement also includes provisions relating to the elimination of other trade barriers as well as trade-related disciplines including rules of competition, state-monopolies and subsidies, investment, services, current payments and capital movements, government procurement and economic co-operation. The Agreement establishes a Joint Committee which supervises the application of the Agreement and provides for binding arbitration