The Egyptian ceramic industry is facing continued uncertainty after the Libyan Cabinet postponed implementing its decision to ban ceramics imports via land crossings until the end of the year, the local press reported. Companies would need to find alternative ways of exporting their products if the government follows through on the restrictions. Shipping via sea would raise costs by 10-20% for exporters, which could force them to pass on the costs to Libyan customers, said Emad Afifi, director of export at Ceramica Granito. Libya is the largest importer of Egyptian ceramics, accounting for around 30% of the industry’s total exports.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
Why EGX stocks are going under the IPO wave
Fund managers are releasing liquidity for ongoing and future IPOs,…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…