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Egypt imposes safeguard duty on cotton fabric imports
17 Mar '12
1 min read
The Government of Egypt has announced imposition of safeguard duty on cotton and blended fabric imports for a period of 200 days beginning this month.
The temporary duty will be applicable at a rate of 10 percent of the CIF (cost, insurance and freight) price, subject to a minimum of E£ 333 (US$ 55) per ton.
In January this year, the Egyptian Government imposed a safeguard duty on cotton yarn imports.
Subsequently, there has been a sharp two to three times increase in the volume of imports of cotton and blended fabrics, which formed the basis for the latest decision of the Government.
The temporary duty will be applicable at a rate of 10 percent of the CIF (cost, insurance and freight) price, subject to a minimum of E£ 333 (US$ 55) per ton.
In January this year, the Egyptian Government imposed a safeguard duty on cotton yarn imports.
Subsequently, there has been a sharp two to three times increase in the volume of imports of cotton and blended fabrics, which formed the basis for the latest decision of the Government.
Fibre2fashion News Desk - India
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