Egypt and EFTA states (Switzerland -Norway -Iceland ) have signed a Free Trade Agreement on 27 January 2007in Davos- Switzerland , the agreement was signed during the tenth negotiation round that was held in Egypt during the period 28-31 October 2006, the agreement has entered into force in August 2007.
The most important provisions that the agreement has are the following:
1. Full tariff exemption of Egyptian industrial commodity exports effective from the date the agreement enters into force.
2. Gradual liberalization of Egyptian industrial commodity imports from Turkey on yearly basis up to 15 years.
3. Regarding agricultural commodities, both countries shall exchange lists of sensitive commodities based on their comparative advantages.
4. Both parties shall adopt the Euro-Mediterranean rules of origin.
