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On 14 December 2004, the Egyptian and Israeli Ministers of Industry and the US Trade Representative signed an agreement to create eight “Qualified Industrial Zones” (QIZs) in Egypt. The agreement, which must be ratified by the Egyptian parliament and the US Congress, will permit goods made in Egypt but with a specified minimum Israeli content to enter the US duty free. Because there is no free trade agreement between Egypt and the US, Egyptian exports to the US are currently subject to duties and other restrictions. The QIZ agreement will make it possible to expand industrial exports and create thousands of jobs — two vital needs of the Egyptian economy.