GENERAL AGREEMENT GATS/SC/30
15April 1994
ONTRADE INSERVICES (94-1028)
EGYPT
Schedule ofSpecific Commitments
(This isauthentic inEnglish only)
____________________EGYPT -SCHEDULE OFSPECIFIC COMMITMENTS
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
I. HORIZONTAL COMMITMENTS
ALL SECTORS INCLUDED
INTHIS SCHEDULE
3) None 3) Acquisition ofland:
Authorization isrequired fortheacquisition
oflandand/or realestate property.
Applications inthisrespect areconsidered
onthebasis oftheevaluation ofthe
specific projects forwhich theacquisition
isrequested andinaccordance withthe
national policy objectives.
-Acquisition oflandand/or realestate
property infreezone areas is
unbound.
4) Theentry andtemporary stayofnatural
persons
According tothelabour code (Law No.
137/1981) anditsexecutive regulations, the
number offoreign personnel necessary to
thesupply ofservices inanyentity,
regardless ofnumber ofitsbranches, shall
notexceed 10percentofthetotal number
ofpersonnel employed therein, unless
otherwise specified inasectoral entry of
thisschedule.4) None
GATS/SC/30
Page1EGYPT (continued)GATS/SC/30
Page2
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
II. SECTOR-SPECIFIC COMMITMENTS
CONSTRUCTION AND
RELATED ENGINEERING
SERVICES
Construction work forcivil
engineering:
-Bridges, elevated highways,
tunnels andsubways1) Unbound* 1) Unbound*
-Waterways, harbours, dams
andother water work2) Unbound* 2) Unbound*
-Long distance pipelines,
communication andpower
lines (cables)3) -Commercial presence isonlyallowed
forjoint-venture companies3) None
-Construction formining and
manufacturing-Foreign capital equity shall notexceed
49percentofthetotal capital
required fortheproject
Special trade construction
work:4) None 4) None
-Steel bending anderection
(including welding)
-Other special trade
construction workEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Installation work:
-Gasfitting construction
work
Electrical work:
-Firealarm construction
work
-Other electrical construction
work
-Other installation work
-Liftandescalator
construction work
-Renting services related to
equipment forconstruction
ordemolition ofbuildings or
civilengineering works,
withoperator
GATS/SC/30
Page3EGYPT (continued)GATS/SC/30
Page4
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
TOURISM AND TRAVEL
RELATED SERVICES
1.Hotels andRestaurants
A.Hotels andother
commercial
accommodations
a)Hotels andmotels
b)Resort hotels and
accommodation facilities
c)Casino hotels
B.Restaurants, Bars and
Canteens
a)Fullservice restaurants
b)Fastfood restaurants and
cafeteria1)Unbound*
2)None
3)Alicence willbegiven according tothe
requirement ofeconomic needs test
(main criteria: market needs andlocating
different categories ofhotels).
-Casino services canbeprovided only
through 5stars hotels (gambling allowed
onlyforforeigners)
-Limitations onthetotalnumber ofservices
operations depend ontherequirement of
economic needs test(geographical location,
increase inthenumber andcategories of
tourists)
-Foreign capital equity should notexceed
49percentinprojects tobeestablished in
Sinai
4)None1)Unbound*
2)None
3)Training ofEgyptian employees should be
performed bytheforeign natural persons
within theterms ofthecontract
4)NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
2.Travel Agencies andTour
Operators
a)Tour operators, packagers
andwholesalers
b)Travel agencies1)Unbound
2)None
3)Limitations onthetotalnumber ofservices
operations depend ontherequirement of
economic needs test
4)None1)Unbound
2)None
3)Training ofEgyptian employees should be
performed bytheforeign natural persons
within theterms ofthecontract
4)None
3.Other Tourism Services
A.Tourism Management
Services
a)Tourism Property
Management
b)Rental/Lease Tourism
Property1)None
2)None
3)Bound onlyforrepresentative offices.
Limitations onthetotalnumber ofservices
operations depend ontherequirement of
economic needs test.
4)None1)None
2)None
3)Training ofEgyptian employees should be
performed bytheforeign natural persons
within theterms ofthecontract
4)None
GATS/SC/30
Page5EGYPT (continued)GATS/SC/30
Page6
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
B.Tourism Transport
Services
a)Land Transport Services
1.Long distance tourbuses
2.Short Distance tourbuses1) Unbound
2) None
3) None
4) Unbound1) Unbound
2) None
3) None
4) Unbound
b) Inland Water Ways
1.Inland Water Passenger
transport
2.Inland Water local tours
3.Cruise ships1) Unbound
2) None
3) Theaddition totheinland water passenger
and/or local tours issubject tothephysical
capacity oftheNileriver.
4) None1) Unbound
2) None
3) None
4) None
C. Tourism Training
Institutions1) None
2) None
3) None
4) None1) None
2) None
3) None
4) NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
D. Tourism Related
Conventions1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
E. Institutional Food
Service Caterers (with
theexception ofAirport
Catering Facilities which
areconfined onlytothe
national aircarriers)1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
GATS/SC/30
Page7EGYPT (continued)GATS/SC/30
Page8
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
FINANCIAL SERVICES
Measures ofspecific application:
Commercial Presence forconducting theactivities ofother Financial Services (Capital Market Services excluding trading insecurities) should taketheform ofa
joint-stock Company oraPartnership limited byshares orlimited liability Company).
Themain criteria onwhich theeconomic needs testconcerning theInsurance andReinsurance Services (both branches offoreign Companies andjoint-venture
Companies), areasfollows:
1. Surplus demand totraditional classes ofinsurance gives newcompanies anopportunity ofworking without harmful competition tothemarket orfinancial
positions ofexisting companies andconsequently policy holders.
2. Exhausting of50percentofthecapacity oftheexisting companies, which iscalculated onthebasis ofsolvency margin, there isasurplus demand inexcess
ofthecapacity which enables anewcompany toachieve itspurpose.
3. Setting upofanewcompany leads toanincrease oftotalretention inthemarket; taking intoaccount thetechnical considerations.
4. Thenewcompanies shall introduce newcovers.EGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
INSURANCE AND
INSURANCE RELATED
SERVICES
1. Life, health, personal
accident1) None
2) None
3) Foreign andjoint venture Companies are
allowed onlytocarry onbusiness infree
zones, provided thattheir activities shall be
confined tothetransactions carried outin
convertible currencies.
-Inland commercial presence, other thaninfree
zones, willbeallowed within fiveyears from
theentry intoforce oftheGATS. Economic
needs testshall apply then;
-Foreign capital equity shall notexceed 49per
centofthetotal capital required forthe
company;
-50percentinexcess oftheretention onthe
basis ofriskpremium ofanyCompany must
beceded totheEgyptian Reinsurance Co., and
5percentoftheCompany 'streaties tothe
African Reinsurance Co.1) None
2) None
3) None
4) Themanaging directors should benationals 4) None
GATS/SC/30
Page9EGYPT (continued)GATS/SC/30
Page10
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
2. Non-Life Insurance 1) Unbound
2) None1) Unbound
2) None
3) Foreign andjoint venture Companies are
allowed onlytocarry onbusiness infree
zones, provided thattheir activities shall be
confined tothetransactions carried outin
convertible currencies3) None
-Inland commercial presence, other thaninfree
zones, willbeallowed within fiveyears from
theentry intoforce oftheGATS. Economic
needs testshall apply then;
-Foreign capital equity shall notexceed 49per
centofthetotal capital required forthe
Company;
-30percentonproportional basis ofthetotal
transactions must beceded totheEgyptian
Reinsurance Co., and5percentofthe
Company 'streaties totheAfrican Reinsurance
Co.
4) Themanaging directors should benationals 4) None
3. Reinsurance and
Retrocession1) None
2) None1) None
2) NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
3) Foreign andjoint venture Companies are
allowed onlytocarry onbusiness infree
zones, provided thattheir activities shall be
confined tothetransactions carried outin
convertible currencies3) None
-Economic needs testshall apply totheinland
Commercial Presence (other thaninfree
zones);
-Foreign capital equity shall notexceed
49percentofthetotal capital required forthe
company;
-Insurance andreinsurance Companies arenot
allowed todealwithreinsurers notlisted inthe
supervisory authority list;
-5percentoftheCompany 'streaties must be
ceded totheAfrican Reinsurance Co.
-TheEgyptian Reinsurance Co.pledges to
accept thefollowing shares:
-Lifebusiness: 50percentinexcess ofthe
retention onthebaseofriskpremium of
anyCompany;
-Non-life business: 30percenton
proportional basis ofthetotaltransactions.
4) None 4) None
GATS/SC/30
Page11EGYPT (continued)GATS/SC/30
Page12
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
4. Auxiliary services other
thanintermediation:
a) Acturial services 1) Unbound
2) Unbound
3) Foreign service supplier must beresident
4) None1) Unbound
2) Unbound
3) None
4) None
b) Consultancy (risk
assessment andrisk
management only)1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
c) Loss assessment 1) Unbound
2) Unbound
3) Foreign service supplier must beresident
authorized toperform thisprofession from
acompetent authority inhishome country
andregistered attheEgyptian register for
thatpurpose
4) None1) Unbound
2) Unbound
3) None
4) NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
d) Liaison offices 1) None
2) None
3) Commercial presence isbound onlyfor
public relations andresearches
4) None1) None
2) None
3) None
4) None
5. Intermediation 1) Bound onlyforlifeinsurance service and
reinsurance services1) None
2) Bound onlyforlifeinsurance service and
reinsurance services
3) Unbound
4) Unbound2) None
3) Unbound
4) Unbound
GATS/SC/30
Page13EGYPT (continued)GATS/SC/30
Page14
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
A. Joint Venture Banks
(JVB's)
-Acceptance ofdeposits and
other forms ofrepayable
funds
-Alltypes oflending,
including consumer credit,
andfinancing ofcommercial
transactions
-Allpayment andmoney
transmission services,
including credit, charge and
debit cards, traveller 's
cheques andbankers draft
-Guarantees and
commitments1) Unbound
2) Unbound
3) Foreign capital equity should notexceed
51percent
4) TheGeneral Manager should benational1) Unbound
2) Unbound
3) Foreign service suppliers, inthecontext of
JVB's,arerequired tooffer on-the-job
training fornational employees
4) None
-Trading forownaccount or
foraccount ofcustomers in:EGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
a) Money market
instruments (cheques,
billsandcertificate of
deposits)
b) Foreign exchange
c) Securities
- Participation inshare
issues andtheprovision
ofservices related to
such issues
- Money broking
- Portfolio management
andadvice
- Safekeeping ofsecurities
- Credit reference services
and
- Safecustody services
GATS/SC/30
Page15EGYPT (continued)GATS/SC/30
Page16
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
B. Foreign Bank Branches
Same activities specified
under (A)above1) Unbound
2) Unbound
3) Economic needs testshall apply.
Terms andconditions specified bythe
Minister ofEconomy andForeign Trade.
4) None1) Unbound
2) Unbound
3) Branches offoreign banks established after
June 5th1992, (thedateofenforcement of
LawNo.37of1992) maybelicensed to
dealinlocal currency inaddition toforeign
currency dealings, subject totheterms and
conditions specified bytheMinister of
Economy andForeign Trade.
4) NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
C. Representative Offices of
Foreign Banks (RO's)1) Unbound
2) Unbound
3) Foreign banks which desire tosetup
representative offices should nothave
branches inEgypt.
- Activities ofRO'sshould beconfined to
conducting studies andpotential
investments, acting asliaison withtheir
head offices andcontributing tosolving
problems anddifficulties thatmay
encounter their head offices '
correspondents inEgypt.
4) None1) Unbound
2) Unbound
3) Unbound*
4) None
OTHER FINANCIAL
SERVICES: (Capital Market
Services)
1. Underwriting 1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
GATS/SC/30
Page17EGYPT (continued)GATS/SC/30
Page18
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
2. Brokerage 1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
3. Trading inSecurities 1) None 1) None
(Buy andsellby
individual orinstitution
onthestock-exchange)2) None
3) None
4) None2) None
3) None
4) None
4. Clearing andSettlement 1) None
2) None
3) None
4) None1) None
2) None
3) None
4) NoneEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
5. Marketing andMarket
Promotion1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
6. Portfolio andInvestment
Management1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
7. Establishment of
collective investment
funds1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
8. Venture Capital 1) None
2) None
3) None
4) None1) None
2) None
3) None
4) None
GATS/SC/30
Page19EGYPT (continued)GATS/SC/30
Page20
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
International Maritime
Transport
A) Passenger Transportation 1) Unbound 1) Unbound
B) Freight Transportation 2) None
3) Commercial presence isonlyallowed for
joint-venture companies.2) None
3) None
- Foreign capital equity should notexceed
49percent;
- Allships owned bytheestablished
companies should beregistered atthe
Egyptian shipregister asapre-requisite to
flytheEgyptian flag
4)-95percentofthecrew should benational
andtheir wages andsalaries should notbe
lessthan90percentofthetotalpaidup
wages andsalaries4) None
-TheChairman andmajority oftheBoard of
Directors must beNationalsEGYPT (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Supporting services for
Maritime Transport: Port
dredging1) Unbound*
2) Unbound
3) Commercial Presence isonlyallowed for
joint-venture companies.
- Foreign Capital equity should notexceed
75percent
4) Atleast 25percentofboththepersonnel
andmembers oftheBoard ofDirectors
must beNationals1) Unbound*
2) Unbound
3) None
4) None
GATS/SC/30
Page21