Back to the complete issue
Tuesday, 7 April 2020

EU slaps Egypt, China with five-year tariffs on glass fiber fabrics

EU slaps Egypt, China with five-year anti-dumping tariffs on glass fiber fabrics: The EU has imposed a five-year, 20% tariff on glass fiber fabrics sold in the bloc by Egypt-based exporters. It has also imposed even heavier tariffs on between 37-99% on Chinese exporters to counter dumping practices, Bloomberg reports. The anti-dumping duties, which will take effect today, partially wrap up a trade dispute arising that caused “material injuries” to EU producers including Finland-based Ahlstrom-Munksjo Oyj. An inquiry by the European Commission to decide whether to impose tariffs on the widely used industrial good began in February 2019.

The investigation is parallel to another probe by the commission into alleged subsidies the Egyptian and Chinese governments are providing to glass fiber reinforcements exporters. In both cases — glass fiber fabrics and reinforcements — the commission is targeting Jushi Egypt for Fiberglass Industry, a subsidiary of Chinese giant Jushi Group that opened in the Suez Canal Economic Zone in 2012. The glass reinforcements probe saw the bloc provisionally impose a tariff of 8.7% that took effect last month. The commission set a July deadline to determine whether it will prolong this for five years, too.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.