CAIRO: Egypt is looking into possible anti-dumping action against Turkish steel imports, the Egyptian trade minister said on Tuesday after talks with his Turkish counterpart in the Egyptian capital.
Egypt, where the need for housing and government infrastructure spending has kept steel demand relatively resilient, has been a major regional market for Turkish steel.
An executive from Egypt s largest producer Ezz Steel said in November that local steel makers were seeking action against dumping because of surging imports.
There is … research taking place about dumping, Egyptian Trade and Industry Minister Rachid Mohamed Rachid told reporters when asked about the rise in Turkish imports and complaints from Egyptian producers.
We are looking at all legal procedures, he said.
Turkish Industry and Trade Minister Nihat Ergun told the joint news conference that they were considering canceling visa requirements to encourage trade, investment and tourism between the two countries.
Ergun led a business delegation to Cairo this week for the Turkish-Egyptian business forum, organized by the Egyptian Junior Business Association and the Turkish business organization Tuskon.
According to a ministry statement, trade between Egypt and Turkey grew in 2009 to reach $3.03 billion despite the economic crisis.
The two countries signed a bilateral free trade agreement (FTA) in 2007, which resulted in doubling the volume of trade from $1.58 billion in 2007 to $2.37 billion in 2008.
“Our industries have several factors in common and Turkey has undergone serious economic reforms about 10 years earlier meant that their experience was one that we could replicate and learn from, Rachid said.
Turkey emerged as a “strategic partner for sectors in Egypt such as ready-made garments and textiles.
Businessmen from both sides will meet to discuss opportunities in textiles and ready-made garments, automotives, building materials and petrochemicals. -Reuters with additional reporting by Daily News Egypt.
