Cairo: Egypt signed a free-trade deal with the four countries of the European Free Trade Association on Saturday, aiming to eliminate customs duties on almost all industrial goods by 2020.
The agreement between the EFTA – comprising Iceland, Liechtenstein, Norway and Switzerland – covers industrial products, fish and processed farm goods, the parties said in a statement.
Individual EFTA states have also concluded separate bilateral agreements with Egypt on basic agricultural products.
Bilateral trade in goods between the EFTA countries and Egypt totaled $425 million in 2005.
Machinery, pharmaceuticals and tobacco are EFTA s main exports to Egypt, which exports salt, precious stones and edible fruits and nuts to the European states.