El-Sadat: concerned about the implications of the new Custom Duties on Egypt's exports

Mr. Anwar El-Sadat, Head of Reform and Development Party (RDP) is concerned about the presidential Decree issued yesterday on increasing the customs tariff. The Decree includes more than 500 exported products. The states exporting such products may increase their duties on Egyptian products in retaliation. It is obvious that the reason behind this Decree is to reduce the trade deficit and to protect the national currency. However, we could face grave losses if similar custom duties are imposed on Egyptian products. Sadat also expresses concern that the list of products is very massive including stationary, furniture among other things in the market and necessary for the Egyptian citizen. Sadat is wondering whether such Decrees will promote local production or they will be abused to raise the prices of products so as to gain profits regardless of the interests of citizens. Sadat expresses dissatisfaction from the surprising decisions taken by the government stressing that there should be community talks and discussions with the conerned stakeholders The House of Representatives should be taken into consideration when taking such Decrees especially if it will affect the citizens and their well-being. Sadat adds that we came to know about the details of the World Bank loan from the official website of the bank itself. However, the government should have revealed the agreement details and terms especially that it includes downsizing the government personnel and their salaries and cutting the financial subsidies on petroleum products.

Mostafa Jibreel
Media Coordinator


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