Another attempt at reaching a resolution in a commercial dispute between Egypt and Turkey will soon be made as the sides have agreed to return to the negotiating table. Controversy arose as Egypt claimed that Turkish-made iron bars used by the construction industry, have been flooding the local market, the daily Al-Akhbar reported.
Several Egyptian companies in the construction business have voiced concern that their businesses will face damages due to what they consider as excessive Turkish exports of iron bars.
Egypt decided to impose higher customs fees on the import of such bars to avoid overflow of the market. Turkey quickly filed a complaint with the World Trade Organization (WTO) and called for the annulment of the added duties.
The paper said that talks between the two sides have so far failed to hammer out an agreement on the issue. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
