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Israel, Egypt to Export Produce Jointly

Israel and Egypt have signed agreement to set up a joint company to export agricultural products to Europe and the United States.

As a result of the agreement signed this week during a visit to Israel by a delegation of Egyptian businessmen, a shipping terminal for the agricultural consortium will be set up in Cairo.

Israel’s Agriculture Ministry said in a statement that the joint venture would involve Agrexco, the agency that markets Israeli agricultural goods abroad; a group of Egyptian exporters; Egypt Air; and several banks that will finance the project.