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European Union Sees Egypt’s New Import Restrictions ‘Damaging’

  • Says the measures create uncertainty, lack transparency
  • EU envoy says this isn’t the way to solve forex shortage

The European Union hopes the Egyptian government will cancel new regulations on imports that have created an unnecessary barrier to trade, its ambassador to Egypt said.

New measures requiring the registration of factories that export to Egypt add uncertainty for foreign investors, will make it harder for Egyptian companies to sell to the European market and lack transparency, European Union Ambassador James Moran said in an interview in Cairo. The EU, Egypt and other parties have been involved in talks over the issue, he said.