Effective April 1st Egyptian spinners will receive 2.75 Egyptian Pounds (0.49 USD) per Kilogram of yarn made of Egyptian Cotton…This direct subsidy is meant to help increase the sector’s competitiveness and protect it from unfair competition of subsidized imports…The above has been implemented simultaneously with the cancellation of safe guards that were recently imposed by Egypt on yarn and textile imports..
Date:4/7/2009
Source:Ministry of Foreign Trade and Industry