Originally, the system was based on a network of free trade agreements with individual origin protocols. The specific protocols on origin are replaced by a reference to the Regional Convention on Pan-Euro-Mediterranean (MSP) Preferential Rules of Origin, established in 2011 to create a more uniform framework for protocols on origin. The main objective of the Agreement (Objectives, Article 1) is to liberalise trade in goods in accordance with Article XXIV of the GATT in 1994. By January 1, 2020, tariffs on almost all industrial products will be eliminated. A Joint Committee composed of representatives of the EFTA States and Egypt monitors and manages the application of the Agreement (Articles 37 and 38). The Parties may hold consultations and, in the absence of agreement, apply interim measures (Articles 39 and 40). The agreement covers trade in industrial products, including fish and other seafood products, as well as processed agricultural products. In addition, some EFTA States and Egypt have concluded bilateral agreements on basic agricultural products, which are part of the instruments for the creation of the free trade area. The Parties agree to establish stable, favourable and transparent conditions for undertakings of the other Parties which carry out or attempt to invest in their territory. They grant each other`s investments full protection and security as well as fair and equitable treatment, in accordance with international law. The Parties recognise the importance of promoting cross-border flows of investment and technology (Articles 24 and 25). In 2014, the EU commissioned a Sustainability Impact Assessment (SIA) for a possible DCFTA with Egypt.

Egypt or an EFTA State may suspend a dispute over the interpretation of the rights and obligations under the Agreement to binding arbitration if the consultations do not lead to a settlement. The arbitral tribunal shall decide on the dispute in accordance with the provisions of the Agreement and the usual rules of interpretation of international law (Article 41). In November 2010, the EU and Egypt signed a protocol establishing a dispute settlement mechanism applicable to the trade parts of the Association Agreement. Egypt has not yet ratified the protocol. In 2004, Egypt signed the Agadir Agreement with Jordan, Morocco and Tunisia. This agreement removes all trade tariffs between them and harmonizes their rules on product standards and customs. On 27 January 2007, the EFTA States adopted a free trade agreement with Egypt in Davos on 1 January 2007. The agreement entered into force on 1 August 2007. The EU and Egypt meet regularly to discuss issues and best practices in the implementation of the agreement. The committees meet regularly. Since January 2014, Egypt has not benefited from preferential access to the EU market under the Generalised System of Preferences (GSP) due to its Association Agreement with the EU.

The agreement contains a provision on the governance of the WTO Free Trade Agreement on Technical Barriers to Trade (TBT). It also provides for enhanced cooperation on the ground and regular consultations within the Joint Committee. Another agreement on agricultural products, processed agricultural products and fishery products entered into force on 1 June 2010. The Agreement applies to trade in fish and other seafood products (Article 4(c) and Annex II). The EFTA States shall grant duty-free access to imports of all Egyptian fishery products. . . .