MOSCOW (MRC) -- Turkish authorities have filed an anti-dumping suit against polypropylene film exports from Egypt, Saudi Arabia, India, and China, reported Daily News with reference to Chemical & Fertilisers Export Council member Magdy Abu Fath's statement.
He added that this decision has taken into consideration the political situation.
Abu Fath claimed that Egypt’s production of polypropylene amounts to 432,000 tonnes, which represents a small amount that does not pose a threat to local Turkish production. Studies will also be conducted on technical lapses on Turkey’s part as well as a comparison of the prices of Egyptian products compared to the cost of their production.
Chairman of the Chemical & Fertilisers Export Council Waleed Helal confirmed the existence of an Egyptian export crisis. The situation has particularly affected chemical exports as a result of political circumstances in the Arab world, stating that exports to the markets of Libya, Iraq, Syria, Tunisia, and Yemen have ceased, in addition to Turkey, which alone accounts for one-fourth of the Egyptian chemical exports.
Helal expressed his concern over the challenges faced by exports in Egypt, adding that it is important to look for alternative markets like Russia, following the agreement between the Egyptian and the Russian parties on the importance of encouraging trading and economic relations between the countries.
During a meeting of the Chemical & Fertilisers Export Council held on Sunday Helal stated that, although chemical exports represent Egypt’s most important exports over the past eight years, as they have generated only EGP 20bn in revenues over the first eight months of 2014, it will be impossible for Egyptian chemical exports to achieve the targeted EGP 33bn in profits.
He said that chemical exports declined by 3% between January and August of this year, while the chemical exports growth rate declined by 16% in August 2014 compared to the same month in 2013.
As MRC informed earlier, in early 2013, in a move to preserve its public interest, Egypt lifted anti-dumping fees on PP imports from Saudi Arabia after a prior investigation of the matter.
The investigation on protective measures and anti-dumping fees imposed on Saudi imports due to claims that they are damaging its industry has been conducting by Egypt since April, Prince Salman said, according to state-run Saudi Press Agency, or SPA. The results of the investigation showed that the damage was caused by other factors and that the measures against Saudi imports were not in interest of the Egyptian public.
MRC