Egypt and Turkey have agreed to go back to negotiations in order to reach a solution over a commercial dispute regarding Turkish-made construction iron bars flooding the local market, the daily Al Akhbar said.
Egypt has responded to the overflow by imposing higher customs duty on the commodity, a decision which prompted Turkey to file a complaint at the World Trade Organization (WTO).
Turkey called for the cancellation of the extra fees but the Egyptian side pointed out that such an action is mandated by WTO regulations and the Egyptian laws.
A number of concerned Egyptian companies have complained that their businesses have been damaged due to the Turkish excessive exports of iron bars to the market.
The paper said that talks between the two sides have so far failed to hammer out an agreement on the issue – Albawaba.com
