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"The Agadir Agreement" for the establishment of a free trade zone between the Arab Mediterranean Nations was signed in Rabat, Morocco on 25 February 2004. [3] [4] The agreement aimed at establishing free trade between Jordan, Tunisia, Egypt and Morocco which was seen as a first potential step in the formation of the Euro-Mediterranean free trade area as envisaged in the Barcelona Process.
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A bilateral free trade agreement is between two sides, where each side could be a country (or other customs territory), a trade bloc or an informal group of countries, and creates a free trade area.
Egypt's balance of trade took a fluctuating path from 2014 to 2023, recording a peak trade deficit in 2014–2015 at US$39.1 billion due to the decline in proceeds from commodity exports. This decline resulted from a decrease in petroleum export proceeds caused by the decline in global oil prices.
The protocol signed between the two nations is a non-reciprocal arrangement and is expected to be a step towards the establishment of a Free Trade Agreement (FTA) between the two countries. [1] However negotiations toward a US–Egyptian free trade agreement have recently been suspended over human rights issues. [2] The results have been positive.
The Euro-Mediterranean Free Trade Area and its Impact on the Economies Involved, by Nicola Minasi, Rome, no date. Consulted 4 September 2010. THE EUROMEDITERRANEAN FREE TRADE AREA: FROM COMPETITION TO INTEGRATION Archived 27 February 2012 at the Wayback Machine, by Alejandro Lorca and Gonzalo Escribano, Madrid, no date. Consulted 4 September 2010.
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Ottoman free trade policies were praised by British economists advocating free trade such as J. R. McCulloch in his Dictionary of Commerce (1834), but criticized by British politicians opposing free trade such as Prime Minister Benjamin Disraeli, who cited the Ottoman Empire as "an instance of the injury done by unrestrained competition" in the ...