Secretary general of the Egyptian European Association at the Ministry of Investment and International Cooperation Gamal Bayoumi said that the European side did not express any official objections on the government intending to pass the automotive development law, commonly known as the Automotive Development Strategy Directives, until now.
Bayoumi told Daily News Egypt that the Egyptian side will remain committed to applying all the terms of the agreement of free trade with the European Union (EU), pointing out that the agreement allows any party to impose an internal tax on all types of cars, without distinction, including the value-added tax (VAT) and the licensing tax, provided that they are imposed on any car, regardless of its origin.
He added that the customs duties on all imports and exports from and to Europe had been cancelled since January 2016, except on cars, customs duties of which will be abolished in January 2019, as Egypt temporarily suspended customs reductions for two years and notified the EU of that decision.
