Egypt-MERCOSUR FTA.

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Egypt-MERCOSUR FTA. by Mind Map: Egypt-MERCOSUR FTA.

1. GOODS

1.1. the essence of this free trade agreement is the concept of“Originating Goods” that allows or deprives exporters to benefit from the tariff reduction.

1.1.1. The specific ROO rules were set based on the cooperative meetings held between the sector representatives, export councils, businessmen and chambers of federations of industries, and can be summarized en the following points: food commodities, textiles and clothingand electronic devices.

2. DISPUTE SETTLEMENT

2.1. The application of this section is restricted to the articles of free goods movement.

2.1.1. The agreement grants the complainer the right to choose whether to settle the dispute arising from implementing the agreement through the dispute settlement mechanisms of the GATT or those mechanisms mentioned in the Egypt–MERCOSUR FTA.

2.1.1.1. MERCOSUR countries act as one country, in case Egypt had a problem with more than one country; common responses are set up.

3. SAFEGUARDS

3.1. The objetives of this preferential safeguards is: Protecting the domestic industries in Egypt against the increase in imports that have a preferential treatment stated in the agreement.

3.1.1. the other objetive is: Allowing the Egyptian industries to adapt to the new competing imports that are treated preferentially and develop competitiveness.

3.1.1.1. These preferential measures of safeguards has some conditions for application in accordance with what was agreed between the parties.

4. BENEFITS

4.1. for the Egyptian economy industries more chemical industries are important in the Latin American market as graphite, alcohol, rubber and other chemical products; textiles such as clothing among other textiles and the food industry

5. The Egypt – MERCOSUR preferential FTA was signed by Egypt on August 2010 after six rounds of negotiations. In 2017, The argentinian Parliament ratified the agreement