Egypt scraps customs on Turkish cars

The Egyptian Customs Authority has begun applying the 0% customs rate on imported Turkish cars as stipulated in the Egypt-Turkey Free Trade Agreement, according to a brochure seen by the local press. Turkish exporters, which previously paid a 10% customs rate, will still pay VAT and development fees. Low customs rates for foreign car manufacturers have been controversial among local auto companies, which have complained that they are unable to compete with the imported European vehicles.