Egypt cancels preventive measures imposed on imports of billet, rebar and aluminum

CAIRO – 14 November 2021: Egypt’s Minister of Trade and Industry, Nevine Gamea, issued two ministerial decisions to stop the work of resolution No. 907 of 2019 and 168 of 2021, which are related to imposing preventive measures on imports of billet, rebar and aluminum products.

The minister said in a statement Sunday, that these two decisions came as a result of the significant rise in the global economy from high inflation rates and energy prices, as well as the rise in the prices of materials and production requirements, which negatively affects the Egyptian productive and export sectors, stressing the ministry's keenness to support all industrial sectors. , especially that the industrial sector is a major locomotive for the national economy.

For his part, Assistant Minister for Economic Affairs and Head of the Commercial Processing Sector, Ibrahim El-Sergany, explained that the sector received a number of complaints submitted by the local industry, as the impact of imposing preventive fees on these sectors was discussed, in light of global and local developments, and it was found that there was a significant increase in prices of production inputs and intermediate goods, as well as the lack of sufficient substitute local product to cover the needs of the local market, and the impact of this on the high cost of finished products.

"This matter negatively affects the competitiveness of Egyptian exports of these products, as well as the economic and development policy adopted by the Egyptian state, especially in light of the national projects being implemented to achieve sustainable development,” he added.