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Egypt Slashes Tariffs on EU-Imported Vehicles to Zero by January 1st

Last October, the Finance Ministry had requested that the EU delay the tariffs-cut for another two years, but the decision to do so has reportedly been cancelled.

important eu cars

Egypt's request to delay cutting down its tariffs on EU manufactured vehicles has reportedly been denied by the EU, meaning cutting Egypt's tariffs on EU-imported vehicles down to zero will be in effect by January 1, 2019.

This conversation continues from last October, when it was reported that the Egyptian Trade Ministry had requested the EU delays the agreement for another one to two years (for the second time) before Egypt cuts down tariffs.

However, EU's Ambassador to Egypt, Ivan Surkos, reported that the extension was not granted; no further remarks or clarifications were made regarding whose choice it was to terminate the extension.

Come January, the only fees that will be imposed on EU-imported cars is the value-added tax (VAT) and resource development fees.

Main image from QMotor.