Egypt impose final dumping duties on Chinese, Turkish, Ukranian iron

Big 5

Egypt’s Ministry of Trade and industry decides today to apply anti-dumping duties on the rebar iron imported from China, Turkey and Ukraine for 5 years.

The duties will increase by 29 percent of the cost insurance and freight (CIF) on the Chinese imports, 7-18 percent of CIF on the Turkish imports and 17.2-27 percent of CIF on the Ukrainian imports.

“The decision comes following a thorough study…and is intended to protect local manufacturing from harmful practices by imported alternatives,” Trade Minister Tarek Qabil said.

On the other hand, the resolution is one of the ministry’s strategic principles 2020 that include protecting, supporting and promoting local industry, in addition to setting regulations for imports and confronting the random importing idea.