A 12-member Egyptian delegation of businesspeople working in the field of textile and garment industry has visited Israel over the weekend for the first time in a decade, both Egyptian and Israeli news outlets reported.
During the trip, the Egyptian delegation is scheduled to meet with representatives from Israel's Foreign Ministry, Economy and Industry Ministry, the manufacturers Association, the Federation of Chambers of Commerce, and the Export Institute, Israeli media reported on Tuesday.
The visit came as part of the Qualifying Industrial Zones (QIZ) trade agreement between Israel, Egypt, and the United States signed back in 2004.
"The economic partnership between Israel and Egypt will promote business and economic growth between the countries, as well as regional prosperity," said Israel's Economy and Industry Minister Orna Barbivai in a statement quoted by Israeli news outlets.
Barbivai added that the Egyptian visit will help promote the interests of both Israel and Egypt.
Qiz allows the export of duty and tax-free products from Egypt to the US provided that Israeli components make up a certain percentage of them, which according to a 2017 amendment of the deal, should stand at 10.5 per cent.
Late president Anwar Sadat normalised relations with Israel in the 1970s under the sponsorship of the US. At a diplomatic level, the Egyptian state currently treats Israel as a friendly country with which it has strong ties in different fields, particularly security.
However, most of the Egyptian people that still consider Israel an enemy state that has been occupying Palestine since 1948.