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09 March 2020
INVESTMENT

EU hits Egyptian raw material with tariff aimed at Chinese firm

The levy is the preliminary outcome of a subsidy probe that the commission began in June 2020 after a complaint by an association representing European manufacturers of glass fibre reinforcements

The commission said that the trade-distorting Egyptian aid to Jushi Egypt entails an exemption from value-added tax and import tariffs/Bloomberg

by Bloomberg

The European Union (EU) has imposed a tariff on industrial material from Egypt in a dispute involving Chinese interests.

The EU duty of 8.7 per cent on Egyptian glass fibre reinforcements is meant to counter alleged subsidies to Jushi Egypt for Fibreglass Industry, a unit of China Jushi Company that is located in the China-Egypt Suez Economic and Trade Cooperation Zone.

The European Commission stated that EU manufacturers including European Owens Corning Fiberglas SPRL in Belgium and Johns Manville Slovakia suffered material injury as a result of trade-distorting Egyptian government aid to Jushi Egypt.

According to the European Commission, Egypt’s share of the European market for glass fibre reinforcements almost tripled to 14 per cent in 2018 compared with 2016.

The commission said that the trade-distorting Egyptian aid to Jushi Egypt entails an exemption from value-added tax and import tariffs for equipment used by producers located in the China-Egypt Suez Economic and Trade Cooperation Zone.

 


RELATED STORIES: European Commission China-Egypt Suez Economic and Trade Cooperation Zone Jushi Egypt for Fibreglass Industry

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