Although the legal framework for international trade is still derived mainly from the socialist-era law 66/1963 on Customs, the Egyptian government pursues a fairly open international trade policy as a member of the World Trade Organization. But while the introduction of a unified flexible exchange rate in late 2004 was a huge step towards freer flow of capital, the movement of foreign capital remains somewhat restricted, with various obstacles to foreign ownership (e.g. of agricultural land, and land in Sinai).
As with all economic policies deemed "neo-liberal", arguments for free international trade are extremely unpopular in Egypt. The notions of national self-sufficiency and protection of national industries, especially concerning "strategic goods", are fairly common. Our program on protectionist policies seeks to revise the legal framework on international trade on the basis of equal reciprocity of customs duties, multilateral agreements and free flow of capital. The program will thus develop a strong case for international trade, particularly by expounding on the concept of comparative advantage.