Egypt MPs Call for Annulling Free Trade Deal with Turkey

People shop at Al Ataba, a popular market in central Cairo, Egypt. March 13, 2018. (Reuters)
People shop at Al Ataba, a popular market in central Cairo, Egypt. March 13, 2018. (Reuters)
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Egypt MPs Call for Annulling Free Trade Deal with Turkey

People shop at Al Ataba, a popular market in central Cairo, Egypt. March 13, 2018. (Reuters)
People shop at Al Ataba, a popular market in central Cairo, Egypt. March 13, 2018. (Reuters)

Tension between Egypt and Turkey surfaced again Sunday as the industry committee at the Egyptian parliament called for annulling the free trade agreement between the two countries, saying it “harms local products”.

Although Cairo and Ankara reduced their diplomatic ties in 2013 in wake of Turkish President Recep Tayyip Erdogan’s opposition to Egypt’s June 30 revolution, the free trade agreement signed in 2005 remains in effect.

Chairman of the industry committee Farag Amer stressed Sunday that the agreement harms Egyptian products and floods the local market with Turkish goods.

In early January, Egyptian customs authorities began exempting imported Turkish vehicles from customs in line with the free trade agreement.

Amer said the committee has repeatedly asked the ministry of industry and trade to cancel the agreement because it has harmed many Egyptian industries.

Egypt’s imports from Turkey increased by 11 percent between January and September 2019, totaling USD2.39 billion compared to USD2.16 during the same prod in 2018, reported Al-Mal economic newspaper from a ministry of industry and trade report.

“Turkish products have already been entering the Egyptian market without custom duties” said MP Mohamed El-Ghoul.

“The free trade agreement between Egypt and Turkey was signed in 2005, but it came into effect under the terrorist Muslim Brotherhood in 2013,” he added.

He gave the example of a fiberboard factory in the Upper Egypt governorate of Qena that is on the verge of collapse because the market is flooded by Turkish and Chinese products.



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.