Exports from Egypt to Brazil grew 73.9% since the Arab country's free trade agreement with Mercosur came into force in September 2017. Brazilian exports to Egypt, in turn, increased 21.1% in the period, according to a survey made and released by the National Confederation of Industry (CNI).
The agreement completed three years on September 1st and since then more than two thousand products have had their tariffs eliminated in trade between the countries of Mercosur and Egypt. As of this September, 463 Egyptian products will have a zero tariff for entry into Mercosur and another 719 products in the block will be eliminated from the entry fee to the Egyptian market.
According to the CNI, since the agreement, Brazil started selling more items to Egypt such as glycerol, bricks, slabs, tiles and similar ceramic pieces for construction and petroleum oils or bituminous minerals. The Egyptians exported more products to Brazil, such as plants, their parts, seeds and fruits, prepared or frozen olives, paraffin and cement.
In September, the Mercosur countries were exempted from tariffs for products such as inorganic chemical compounds, organic chemicals, paper and cardboard, pharmaceuticals, plastics and their products and fuels, mineral oils and their distillates. Egyptians will enjoy zero tax for plants, roots and tubers, fuels, mineral oils and their intended uses, grains, seeds and fruits, salt and sulfur, earth and stones, plaster, lime and cement and rubber.