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Gov't to cancel clothes import barriers, impose highest customs duties
Egypt, Economics, 10/16/2001
"Egypt will begin in January 2002 to liberalize its textile trade in accordance with the World Trade Organization (WTO) Accord signed in 1995," an official said yesterday.
"Liberalization of the textile sector would include open doors to all types of previously banned textile products," First Undersecretary of the Ministry of Economy and Foreign Trade, El-Sayed Abu El-Komsan said.
The ministry recently increased inspection fees on imported goods by 10 P.T per kilo, Komsan said, adding that the changes apply to blankets, clothing, belts, bed sheets and curtains.
On the other hand, the Ministries of Finance and Industry are currently studying imposing the highest customs duties (55 percent) on imported clothes.
Adel Al Ezabi, a businessman said the Egyptian clothes and textiles factories had not taken advantage of the 4-year long respite to modernize their machines, so they will face grave hazards after the two coming years.
Previous Stories:
Mubarak meets Mayor of London on British investments
(10/15/2001)
Ebeid: conditions in banking systems stable
(10/11/2001)
Mubarak-Peace Bridge inaugurated
(10/10/2001)
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