Egypt's FM highlights 'soft power' in Mali meeting with alumni    Egypt's foreign minister opens business forum in Niger, targets new partnerships    Egypt's FM delivers Al-Sisi message to Niger's leader, seeks deeper security ties    Rafah Crossing 'never been closed for one day' from Egypt: PM    Egypt will keep pushing for Gaza peace, aid: PM    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Al-Sisi urges accelerated oil, gas discoveries, lower import bill    SCZONE signs $52.6m textile industry deals during China investment tour    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    EGX to close Thursday for July 23 Revolution holiday    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ministry of Industry to increase export fees on fabric scraps to EGP 3,500 per tonne
Exports of scrap fabric for recycling increased to 294 tonnes in 2015, threatening the domestic textile industry
Published in Daily News Egypt on 27 - 12 - 2015

Minister of Trade and Industry Tarek Qabil issued a decision imposing an export fee of EGP 3,500 per tonne on fabric scraps, abolishing previous decisions in this regard.
He attributed the decision to the exertion of efforts to support the textile industry and avoid the negative consequences of the shortage of scraps – that are recycled and reused – in the local market due to the increase of exports, which threatens the domestic textile industry.
These fees have been imposed on raw materials to ensure their availability in the local market and avoid any negative impacts on textile investments, especially as it is a labour-intensive industry.
The Ministry of Industry's decision came in response to the demands from textile manufacturers, who called upon the ministry to charge an export fee to ensure the availability of scraps in the local market. A similar previous decision will expire by the end of 2015.
Qabil said the ministry received the approvals of the Cotton and Textile Industries Holding Company and the Egyptian Textile Export Council Holding Company to maintain the fee.
The Home Textile Export Council also recommended charging the fee so fabrics can be recycled to produce thick yarns that can be used in the textile industry, especially by small and medium-sized factories and small-scale producers. The Egyptian Businessmen's Association suggested increasing the fee by 25%.
Qabil said exports of fabric scraps have been growing over the past three years from 43 tonnes in 2013, to 93 tonnes in 2014, and 294 tonnes in 2015.
Many prefer to export in light of the difference between the price in the local market and that for exporting, amounting to EGP 3,670. The local price records EGP 3,700 per tonne in addition to a shipping fee of EGP 130 per tonne, while the price per exported tonne EGP 6,330, including the EGP 2,500 fee, but the selling price amounts to EGP 9,780 in foreign market.


Clic here to read the story from its source.