Egypt’s Ministry of Finance started Monday, April 15 collecting temporary protection fees on Egypt’s imports of iron billets and steel rebar for 180 days.
The ministry clarified that the fees are 15 percent for billets and 25 percent for steel rebar in all its forms such as bars, rods, rolls or chopsticks, besides its semi-finished products as billets.
The ministry hopes this decision increases the growth rate of production and sales of the local industry and supports the Egyptian manufacturers as the proceeds of these fees will be placed in the account of the Export Development Fund of the Central Bank. This will help increase the activity of the Egyptian export sector and thus will provide more employment opportunities for young people.
Ministry of Trade and Industry decided in December to maintain tariffs on steel rebar from China, Turkey and Ukraine for five years, extending a temporary tariff imposed in June 2017.
Upon 2017’s decision, the tariff was set at 17 percent for Chinese steel, 10 to 19 percent for Turkish steel and 15 to 27 percent for Ukrainian steel.
Egypt Today
