Imad Kassir

Foreign-trade Zones (FTZ) are secure areas located in or near ports of entry but legally considered to be outside the customs territory for tariff laws and Customs entry procedures.

I agree with Mr. Xavier L., but I would like to add some points: Factor Immobility: The immobility of various factors of production deprives the flexible exchange rate system of its advantages arising from the adoption of monetary and other policies for maintaining internal stability. Such policies produce desirable effects on production and employment only when supply of factors of production is elastic.Failure of Flexible Rate System: Experience of the flexible exchange rate system adopted between the two world wars has shown that it was a flop.

Current importing regulations require that every component of a product be inspected, regardless of the compliance history of the product, country of origin, exporter, shipper, or importer. No import can be sold in Egypt without first proving that it conforms to Egyptian standards if it is on the mandatory list. If there are no Egyptian standards that suit the imported product, then it must be defined using the standards of one of the international organizations that Egypt is affiliated with; e.g. ISO, IEC, and Codex Alimentarius.