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Egypt's GB Auto calls for lower tariffs on car imports

Reuters  |  CAIRO 

By Stephen Kalin and Nadia El GowelyCAIRO (Reuters) - Egypt's largest listed automotive assembler and distributor GB Auto has called for lower tariffs on car imports from the United States and Asia, fearing that free trade agreements signed with Europe, Turkey and Morocco will distort competition.A pact signed with the European Union in 2001 to boost trade will see a gradual elimination of custom's duty on auto imports over the next few years. Egypt has signed similar deals with regional car-producing giants Turkey and Morocco.By giving an advantage to those source countries, the agreements ...

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First Published: Fri, May 01 2015. 16:59 IST