Greece threatens to ban Egyptian Imports in response to Egypt Cotton Export Ban

The Egyptian Foreign Ministry has received a letter from the government of Greece, objecting to the Egyptian government’s decision to ban the export of cotton, according to a senior figure in the government, noting that the decision may compel the Greek government to ban Egyptian imports in return.

The source said that Greece had banned the import of Egyptian potatoes three years ago when the decision was first taken, which led to a decline of 60 percent in the local production of potatoes.

The Council of Ministers held a meeting on Wednesday to discuss this problem, after a meeting of the ministers of industry and agriculture, the heads of export councils, the chairman of the Union of Chambers of Commerce, the chairman of the Holding Company for Spinning and Weaving Company and the chairman of the General Union of Agricultural Cooperatives failed to reach a solution because the Agriculture Minister insisted on the ban.

They said the decision is catastrophic and would destroy the textile industry.

source:Daily News