Egypt may hit Turkish steel with anti-dumping duties

CAIRO - Anadolu Agency

The Egyptian Trade Ministry is considering to impose anti-dumping duties on the steel imports from Turkey to protect local businesses. REUTERS photo

Egypt’s Trade and Industry Ministry has said it is considering a proposal to impose anti-dumping duties on Turkish steel imports.

The move comes “due to the increase of Turkish imports flooding the domestic steel market at dumping prices,” the ministry said in a statement, a copy of which was obtained by Anadolu Agency.

In December, the ministry imposed temporary protective tariffs on imported steel at a rate of 6.8 percent, estimated at 299 Egyptian pounds per ton, for roughly seven months. But the measure expired in June.

“If Turkish exporters were proved to be involved in dumping policies that harm the local steel industry, an immediate action would be taken against steel imports from Turkey,” the statement said.