Egypt to study trade deal

Business monthly (Egypt) - - IN BRIEF -

By or­der of Prime Min­is­ter Ibrahim Mahlab, a min­is­te­rial com­mit­tee will look into the po­ten­tial im­pact on Egypt of the Transat­lantic Trade and In­vest­ment Part­ner­ship. Though Egypt is not a party to the TTIP, which aims to lower trade bar­ri­ers be­tween the United States and the Euro­pean Union, both par­ties are ma­jor trad­ing part­ners of Egypt’s. The deal, which is be­ing ne­go­ti­ated in se­cret, has pro­voked con­tro­versy on both sides of the At­lantic. Op­po­nents worry it will loosen reg­u­la­tions in ar­eas like food safety, la­bor rights, and bank­ing and that it will ex­pose gov­ern­ments to law­suits in supra-na­tional in­vest­ment dis­pute set­tle­ment courts. Pro­po­nents of the deal claim it will in­crease in­vest­ment, cre­ate jobs and lower con­sumer costs. They ar­gue that in­creased U.S.-Euro­pean trade will have a pos­i­tive rip­ple ef­fect on other economies,

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