Home / Knowledge / News / Textiles / Egypt withdraws fee of 25% of CIF value imposed on cotton yarn & fabric
Egypt withdraws fee of 25% of CIF value imposed on cotton yarn & fabric
23
Apr '09
In January 2009 a temporary precautionary fee of 25% of CIF value was imposed by the Arab Republic of Egypt on imports of cotton yarn and fabric [HS Code 5205-5212] and sugar. The minimum fee was half a dollar on every kg of cotton textile and one dollar for every kilo of processed sugar. This fee was imposed as a temporary precautionary measure on 16th January, 2009 for a period of one year by decrees No. 19, 20 and 21 of the Minister of Trade & Industry of the Arab Republic of Egypt.

Immediately on receipt of this information, Government of India challenged the preventive fee imposed by Arab Republic of Egypt since Egypt has exceeded the bound rates notified to the World Trade Organization (WTO). Towards this end, Ministry of Commerce India took up the matter with Egyptian authorities on imposition of this fee amounting to 25% on CIF value of the goods which was in addition to 5% import duty on cotton and mixed yarn and 10% import duty on cotton and mixed woven fabrics.

Indian Cotton yarn exports to Egypt are a very significant component and rank 1st in Egypt's import of that commodity, besides being India's top exports to Egypt. A 'fee' of 25% of CIF value over and above all other taxes and duties imposed by Egypt would have adversely affected our textile export sector which is already plagued by the economic meltdown.

As a result of concerted efforts made by the Department of Commerce, Ministry of Textiles and other export promotion bodies, the Arab Republic of Egypt has withdrawn the said fee vide Ministry of Trade & Industry Decree No. 336 of the year 2009 w.e.f. 8th April, 2009. India recognises with deep appreciation, the action taken by Egypt.

Press Information Bureau

Must ReadView All

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Prime Minister Theresa May speaking on the UK government's negotiating objectives for exiting the EU. Courtesy: UK government

Textiles | On 18th Jan 2017

UK to pursue trade agreements with other countries

The United Kingdom will pursue free trade agreements with the EU and...

Courtesy: Alibaba Group

Apparel/Garments | On 18th Jan 2017

Alibaba forges global alliance to fight counterfeiting

Jack Ma led Alibaba Group has forged an alliance with various global...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search