Turkey tears up tariffs on Egyptian cotton - sportstextiles: Lea SportsTextiles

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Turkey tears up tariffs on Egyptian cotton

11/01/2013
Turkey has cancelled protective tariffs on cotton yarn imports from Egypt and other countries, the country’s minister for industry and external trade, Hatem Saleh, has said.

Commentators have said the move is likely to boost Egyptian exports of thin yarn (from 50 to 140 count) in particular, the minister said, while thicker yarn (under 40 count) would face stiff competition from exporters in India and Pakistan owing to recent decreases in cotton prices in those countries.

Egyptian yarn exports to Turkey from 2007 to 2011 reached 7,790 tonnes, valued at $66.2 million. Of this, 51% went into Turkey under a quota system and was exempt from custom duties, but importers had to pay tariffs on the remaining 49%.

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