The Egyptian Government Will Introduce Measures To Protect The Textile Industry.

Ahmed Seoudy, head of the customs and Excise Department of Egypt, announced that the Egyptian government was about to introduce measures to protect the local textile industry. To this end, the customs and Excise Department will meet this week to consider revising textile products. tariff and tax rate Egyptian industry union The Ministry of industry and the Ministry of industry have asked the Ministry of finance to take measures to safeguard domestic industries.

Mr. Seoudy has outlined some measures, including the revision of the quantity of imported fabrics, which is temporarily exempt from customs in order to keep the volume of imports consistent with the actual demand of the unit. He also suggested that the grace period of re sale fabrics should be cut down from two years to a year before the tariff is reestablished. He said he would closely monitor all transactions related to raw materials needed for production so as to avoid the entry of these commodities into the black market. In addition, he also disclosed that the tariff would not be announced in advance, aimed at preventing dealers from hoarding goods and selling them at high prices in the future.