The text of an exchange of notes between the governments of Egypt and Palestine with reference to a commercial agreement between the two countries has been published in London as a white paper. The agreement embodied in this correspondence marks a new stage in the development of the commercial policy of the Palestine Government.
Egypt is not a member of the League of Nations, nor has it had, up to the present, any special agreement with Palestine. Consequently, it has not been entitled, as of right, to most-favored nation treatment under the Palestine tariff. This has now been accorded on conditions of complete reciprocity.
As the Egyptian customs tariff is about to be reviewed, the present agreement is only of a provisional character, and can be denounced by either party on three months’ notice. It is expected, however, that it foreshadows a more permanent arrangement on similar lines.
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