Customs duty exemption of 5% has been maintained by the United Arab Emirates for steel rebar fabricators, or cutters-and-benders, importing from Turkey and other nations.
New checks have been put in place to ensure wider implementation of the tariff, according to state and market sources.
CIB, Turkish steel exporter association has released a note detailing the precise changes to legislature. Turkey’s one of the largest export markets for rebar is UAE. The country is the largest seaborne importer from Turkey with around 60,000-100,000mt/month of purchases. The more stringent implementationwill be beneficial for the Steelmakers in the Gulf States.