Egypt has cancelled duties on semimanufactures
14 August 2019, 09:24
In mid-April, the Egyptian government announced import duties for the next six months. The quota for iron blanks is fifteen percent, and for steel reinforcement, twenty-five percent. The purpose of the new duties is to enable local manufacturers to expand their sphere of influence in the domestic market and protect them from unscrupulous competitors. Also, the basis of the policy was to increase production growth at enterprises, to increase sales of products from domestic producers. But the other day, by a court decision, duties of fifteen percent were canceled, since they caused a completely opposite result.
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