Home / Knowledge / News / Textiles / Egypt pulls back precautionary fee levied on cotton yarn
Egypt pulls back precautionary fee levied on cotton yarn
10
Aug '10
In January 2009, the Arab Republic of Egypt imposed a temporary precautionary fee of 25 percent of CIF value on cotton yarn, fabric and sugar imports.

The minimum fee was $0.5 on every kilogram of cotton textile and $1 for every kilogram of processed sugar. This fee was imposed as a temporary precautionary step on January 16, 2009, for a one year time period by decrees Nos. 19, 20 and 21 of the Minister of Trade and Industry of the Arab Republic of Egypt.

Immediately on receipt of this information, Government of India opposed the preventive fee levied by Arab Republic of Egypt, as Egypt had surpassed the bound rates, which were laid down by the World Trade Organisation (WTO).

Later, Indian Ministry of Commerce took up the matter with the Egyptian officials on imposition of this fee summing to 25 percent on CIF value of the products, which was levied in addition to the 5 percent import duty on cotton and mixed yarn and 10 percent import duty on cotton and mixed woven fabrics.

Apart from being India's top importer, exports of Indian cotton yarn to Egypt is ranked as a very important part and is number one in Egypt's list of commodities that are imported. A fee of 25 percent of CIF value, over other taxes and duties, which were levied by Egypt, would adversely effect on the Indian textile export sector, which was already crippled by the world economic downturn.

Hence, owing to continuous efforts made by the Indian Department of Commerce, Ministry of Textiles and other export promotion bodies, Arab Republic of Egypt withdrew the aforesaid fee with effect from April 8, 2009. India thereafter, thanked Egypt for their prompt action.

Fibre2Fashion News Desk - India


Must ReadView All

India's garment exports up 24.93% in September 2017

Textiles | On 16th Oct 2017

India's garment exports up 24.93% in September 2017

The exports of readymade garments from India in September 2017 was...

Low GST rate on zari will generate jobs for women: SRTEPC

Textiles | On 16th Oct 2017

Low GST rate on zari will generate jobs for women: SRTEPC

There will be a rise in the employment for women with the slash in...

Consumers may suffer if no assurance to EU workers in UK

Apparel/Garments | On 16th Oct 2017

Consumers may suffer if no assurance to EU workers in UK

Consumers may suffer if the British Government does not quickly offer ...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Judy Frater
Somaiya Kala Vidya

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.9%
No
13.8%
Skip
9.2%

Total Votes: 65

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
27.7%
Skip
10.8%

Total Votes: 65

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.6%
No
10.8%
Skip
4.6%

Total Votes: 65

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
73.8%
No
12.3%
Skip
13.8%

Total Votes: 65


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search