India-Egypt Preferential Trade Agreement
Your Excellency, I am writing to take note of the following agreements reached between us under the trade agreement signed today: Currently, India shares privileged market access and economic cooperation through trade agreements with more than 50 countries. The following table lists the main bilateral and regional agreements that India has signed and implemented: 8 July 1953 63 or a shorter period if the agreement is terminated before the end of a full year will not be transferred. I am writing to acknowledge receipt of your letter today, which reads as follows: (Not reproduced) The article to which Your Excellency refers simply provides that Egypt cannot automatically claim such benefits under the most-favoured-nation cause of the agreement. However, it is recognized that, in practice, this does not prevent India from granting Egypt the advantages that India could grant to other countries under a multilateral economic agreement aimed at liberalizing the conditions of international trade. (d) benefits granted under a multilateral economic agreement to liberalize the conditions of international trade. Article 2 Each Party shall accord to ships of the other Party in respect of tonnage, port, pilot, lighthouse or other similar customs duties levied in the ports of a Party treatment no less favourable than that accorded to ships of another foreign country. This Article shall not apply to concessions to ships engaged in coastal traffic of a Party. 3. Before the end of the first twelve months, new lists may be adopted by mutual agreement for the following period of one year or any other mutually agreed period and thereafter in a similar manner for each subsequent period of a year or otherwise mutually agreed before the end of the immediately preceding period. 2. The quantity or annual value of any of the items listed in Lists A and B may be amended or added by mutual agreement between the two Parties. (b) benefits resulting from a customs union or free trade area to which one of the Parties is or may become a Party; The India Business Forum (IBF) in Egypt was launched in 2012 by the Embassy of India in Cairo with the Confederation of Indian Industry (CII), one of India`s leading trade organizations. Cii IBF is a platform for Indian companies in Egypt to exchange information and deal with issues with the Egyptian and Indian authorities.
The IBF also aims to promote and support the activities of its members in Egypt and play a catalytic role in promoting trade and investment between the two countries. India`s ambassador to Egypt is the head of the IBF. I am writing to take note of the following agreements reached between us during our deliberations on Article 4 of the Egypt-India Trade Agreement: (i) Egypt will grant India most-favoured-nation treatment for imports and exports. In particular, India will receive treatment no less favourable than that accorded to France, Italy and other countries with which Egypt has concluded payment agreements. • India will also grant Egypt most-favoured-nation I treatment for imports and exports. The foregoing Agreement shall not affect the granting or maintenance of: (a) any advantage granted by one of the Parties to contiguous countries. The term “contiguous countries” will include, in the case of Egypt, the member countries of the Arab League and, in the case of India, Afghanistan; (b) benefits resulting from a customs union or free trade area to which Egypt or India has acceded or could accede; and (c) the advantages granted by India to certain countries bordering the Indian Ocean with respect to goods transported by land vehicle. 2.1 welcomes the confirmation that this letter correctly reflects the agreements reached between us with regard to the above issues. Describes the trade agreements in which this country is involved.
Provides resources for U.S. companies to obtain information on the use of these agreements. India is actively participating in regional and bilateral trade negotiations aimed at diversifying and expanding its export markets while ensuring access to raw materials, intermediate products and capital goods needed to promote domestic value-added production. No. 5 Cairo, 8 July 1953 MY DEAR AMBASSADOR With regard to Article 1(2)(a) of the Egypt-India Trade Agreement, I welcome your confirmation that the provisions of that subparagraph would not prevent India from extending in practice to Egypt the advantages available to India under a multilateral economic agreement aimed at liberalising the conditions of international trade. Sincerely, 2. The volume of bilateral trade between the two countries grew positively from 2005-2006 to 2012-2013, bringing trade from $1.2 billion to a peak of $5.45 billion. Trade volume gradually decreased by $4.95 billion in 2013–14 to $4.77 billion in 2014–15 and $3.23 billion in 2016–17 due to the general economic downturn and lower oil prices. However, trade resumed positive growth from 2017 to 2018, reaching $3.68 billion in 2017-2018 and $4.55 billion in 2018-2019. From April 2019 to February 2020, the transaction volume was $4.38 billion.
Egypt has always been one of India`s most important trading partners on the African continent. The bilateral trade agreement between India and Egypt has been in force since March 1978 and is based on the most-favoured-nation clause, and our bilateral trade has more than quintupled over the past decade. According to the Egyptian Central Authority for Public Mobilization and Statistics (CAPMAS), India was Egypt`s 9th largest trading partner in the 2018-19 fiscal year. It was the 8th largest importer of Egyptian goods and the 10th largest exporter to Egypt during the same period. There is no trade agreement between India and the United States. In April 2018, the United States initiated a review of the eligibility of India`s compliance with the Market Access criteria of the Generalized System of Preferences (GSP) and in March 2019 decided that India no longer met the criteria, thereby withdrawing India`s GSP status. The repeal of GSP benefits eliminated special tariff treatment for $5.6 billion of Indian exports to the United States in India`s export-oriented sectors such as pharmaceuticals, textiles, agricultural products and auto parts. The United States and India are continuing their discussions on trade issues. 4. Bilateral trade figures in millions of dollars for the ten-year period (2010-2020) are presented below: The Government of India and the Government of Egypt, inspired by the desire to strengthen the traditional ties of friendship that unite the two countries and to further facilitate and develop the existing trade relations between the two countries, (c) preferences or benefits granted by India to a country which existed at the time of this Agreement or which replaced such preferences or benefits which existed before 15 September. August 1947; or Ambassador Extraordinary and Plenipotentiary, Cairo.
His Excellency Dr. MMWOUD FAwzi, Minister of Foreign Affairs, Cairo. The Parties further agree that, when any of them establish or maintain a state enterprise, wherever located, or grants exclusive or special privileges, formally or effectively, to an enterprise or body, that enterprise or body does not import or export (with the exception of imports of products, acquired for governmental purposes and not for commercial resale or use in production) act in a manner that nullifies or compromises any benefit conferred on the other Party under any provision of this Agreement. 1. India and Egypt shall accord each other full treatment by the most-favoured-nation, i.e. h. as regards customs duties and charges levied on imports or exports or on the international transfer of payments on imports or exports, as well as as regards the manner in which such duties or charges are levied and any provisions. Advantages, advantages, privileges, privileges or immunities granted by a Contracting Party to a product originating in or destined for another country shall be accorded without delay and without condition to the formalities and charges to which customs clearance operations may be subject. .