| News | ||
| Egypt not to impose customs duties on Turkish steel imports - 08 Sep, 2010 | ||
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Arab Steel reported that International Conventions Sector of the Egyptian Ministry of Industry and Trade rejected demands from rebar producers to re impose 10% customs duties on imported rebar. The Sector sent a rejection note to the Industries Union informing it of the decision made regarding the demand of rebar producers through the Chamber of Metal Industries within the Industries Union. The Chamber of Metal Industries issued a release, in which it said that the demand to impose duties came because of the recurring losses incurred by public and private mills in Egypt for more than two years now the thing which made them resort to stockpiling their production up to 1 million tonnes while imports from Turkey last year reached up to 3 million tonnes seizing 50% of the Egyptian market. The head of the International Conventions Sector in his address to the Industries Union in response to the memorandum from the Chamber of Metal Industries demanding the re impose of duties, said that the free trade agreement with Turkey forbids levying such duties that have been cancelled in February 2008. Mr Wanies Ayyad member of the Board of the Chamber of Metal Industries said that the overall rebar sales of both locally produced and imported rebar shall not reach 7 million tonnes this year after recording 7.2 million tonnes last year. He pointed out that imported rebar seized up to 35% of the local production share in the market, resulting in stockpiling. Mr Aburrahman Fawzi head of the International Conventions Sector in the Ministry of Industry and Trade said that the free trade agreement that Egypt has signed with Turkey stipulates customs to be cancelled on many industrial supplies including rebar since February 2008. Therefore the demand of 6 local rebar mills is unacceptable. Mr Muhammad Hanafi GM of the Chamber of Metal Industries said that the agreements with Turkey allow the Egyptian government to undertake exceptional provisional measures by levying duties up to 25% on imported manufactured goods. (Sourced from Arab Steel) | ||
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