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Tuesday, 28 June 2016

EU Delegation head urges Egypt to remove import restrictions, abide by WTO rules

European Union applying pressure over import registry? European Union Delegation to Egypt chief James Moran is urging Trade and Industry Minister Tarek Kabil to scrap the import registry, Al Borsa reports. The measure was imposed in January to slow imports and ease demand for foreign exchange. Cautioning that the measures could have a “negative impact,” Moran said Egypt should work to grow exports rather than imposing restrictions on imports. “We hope the Egyptian Minister of Industry withdraws these measures in line with WTO rules,” Moran said. Egypt had explained it as a measure for quality control, but trade partners like the EU and Turkey were not convinced. Last week, Kabil had denied that any complaints had been lodged with the WTO over the measures.

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