Tag Archive | "Free Trade"

Free Trade or Protectionism?

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Free Trade or Protectionism?


CAIRO, June 18 (Reuters) - Egypt’s food exports to Libya and Sudan will face increasing barriers after the introduction of new import duties and transport restrictions, the head of Egypt’s Food Industries Export Council said on Thursday.

Hany Berzy told Reuters Libya’s decision to impose a 10 percent import duty on Egyptian food commodities and Egypt’s decision to prohibit transfer of food products to Sudan via land was a double blow to the sector.

“Unfortunately, everyone is trying to introduce extra taxes to protect their local industries despite the fact that we have an Arab free trade agreement,” Berzy said, adding he did not know the exact reason Egypt restricted land transportation for commodities bound for Sudan. Read the full story

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