Egypt Withdraws Import Fee on Cotton Yarn

By Jim.Robinson|May 1, 2009

Egypt has withdrawn a temporary import fee it imposed on cotton yarn and textiles in a move that would benefit India, one of the leading producers of cotton yarn.

In January 2009, Egypt imposed a fee of 25% on CIF value (cost, insurance and freight) on cotton yarn and textiles for a period of one year.

This was in addition to a 5% import duty on cotton and mixed yarn and 10% import duty on cotton and mixed woven fabrics.

A government statement issued this week said India had taken up the additional import fee issue with the Egyptian authorities soon after they imposed it.

The fee exceeded the bound rates notified to the World Trade Organization (WTO), it added.