Cairo – Mubasher: Egypt’s minister of trade and industry Tarek Kabil on Thursday announced suspending annual customs reduction on cars imported from the European Union (EU), which was scheduled to be implemented early 2018.
Customs tariffs on European cars were set to be reduced gradually by 10% per year as part of the Egyptian-European partnership until Egypt becomes fully exempted from these customs by 2019, Kabil highlighted in a statement.
New car sales in Egypt have sharply declined during the first 10 months of 2017, according to a report by the Automotive Marketing Information Council (AMIC).
