Cairo – Mubasher: Egypt seeks to rationalize importation of unnecessary products that amount to nearly $12 billion, said Minister of Trade and Industry Tarek Kabil.
“We can’t ban importation completely, but at least we can apply direct imports control,” said Kabil on the sideline of economic conference.
“The government has raised the customs tariffs imposed on number of inessential products,” added Kabil.
The country’s trade deficit recorded $49 billion in the fiscal year 2015/16, but the government works on cutting it by around 50% in FY16/17, noted minister.
The food products and the unnecessary products account for nearly 25% of the country’s imports, clarified Kabil.
Egypt imports slowed down by around $7 billion since the beginning of 2016, while exports grew by around $1 billion, noted Kabi.
