Egypt imposes dumping duty on Indian, Chinese tyres

CAIRO (Reuters) - The Egyptian government has imposed a dumping duty for the next five years on new bus and truck tyres imported of Indian or Chinese origin, the state news agency MENA said on Saturday.

Trade and Industry Minister Rachid Mohamed Rachid imposed the duty to encourage investment in Egyptian production of tyres of this type and to create new jobs in the sector, it added.

It did not say how much the duty would be and ministry officials were not immediately available to comment.

Rachid said that within 12 or 18 months a joint Egyptian-Chinese industrial area west of Cairo would start producing all kinds of components for the vehicle industry.