Ghali hails US decision on steel import tariffs

Egyptian Minister of Foreign Trade, Youssef Boutros Ghali on Wednesday lauded US President Bush's decision to exempt Egypt from the new steel import tariffs which range between 8 to 30 percent.

"This decision will allow an increase of Egyptian steel exports to the US from $ 70 million to $ 250 million till mid 2004," Ghali said.

Ghali added in statements made on Wednesday that this decision means that after 13 months as of the end of 2002, our exports will up to about $ 0.5 billion, adding that this practical measure was made in light of the distinguished relations between Egypt and the US.

"Egypt exported steel worth of $ 70 million to the United States last year," he pointed out.

Ghali also noted that Egypt called the US to give Egypt special customs privilege for the Egyptian vegetable and fruit exports to the US market, adding that the US side is currently considering this request.

"They promised President Hosni Mubarak that they will make appositive decision in this respect within one or two months," the Minister said.