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Egypt to Retain Tariffs on Steel Rebar from China, Turkey, Ukraine for 5 Years

Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016. REUTERS
Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016. REUTERS
TT
TT

Egypt to Retain Tariffs on Steel Rebar from China, Turkey, Ukraine for 5 Years

Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016. REUTERS
Workers check steel products at a factory in Dalian, Liaoning Province, China, March 30, 2016. REUTERS

Egypt will maintain tariffs on steel rebar from China, Turkey, and Ukraine for a period of five years, the Ministry of Trade and Industry said in a statement on Wednesday, extending a temporary tariff imposed earlier this year.

The tariff was first implemented in June to protect local manufacturers and set at 17 percent for Chinese steel, 10-19 percent for Turkish steel, and 15-27 percent for Ukrainian steel.

The statement quoted Minister Tareq Qabil as saying that the decision was taken after a “careful examination ... and based on a complaint by the local industry.”

Steel rebar prices in Egypt have sharply risen since the tariff was implemented last June.

Egypt produces annually 6 to 7 million tons of steel rebar.

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Saudi-Thai Economic and Trade Committee Discusses Boosting Trade

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
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TT

Saudi-Thai Economic and Trade Committee Discusses Boosting Trade

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA
The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa. SPA

The Economic and Trade Committee of the Saudi-Thai Coordination Council held on Thursday its first meeting in Bangkok to strengthen trade relations between the two countries.

The meeting was attended by Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah and his Thai counterpart, Maris Sangiampongsa.

The meeting was chaired by General Authority of Foreign Trade (GAFT) Deputy Governor for International Relations Abdulaziz bin Omar Al-Sukran and Thai Ministry of Commerce Permanent Secretary Vuttikrai Leewiraphan.

The committee aims to strengthen trade relations between Saudi Arabia and Thailand by exchanging expertise; fostering cooperation in economic and developmental fields; promoting food, health, and halal products; advancing industrial development; involving the private sectors of both countries in trade fairs and conferences; and addressing trade obstacles and challenges facing both nations.

The volume of trade between Saudi Arabia and Thailand reached more than $6 billion by the third quarter of 2024. Prominent Saudi exports included mineral products and fertilizers, while major Thai imports to the Saudi market included automobiles and their parts, as well as machinery and mechanical tools and their components.