Import tax on copper pipe products is extended for another 5 years from Greece to Turkey in accordance with the decision of the Turkish Ministry of Commerce. This announcement was made by ELVALHALKOR HELLENIC COPPER AND ALUMINUM INDUSTRY JSC, following a request submitted by a national producer in Turkey, a process in which ELVALHALKOR participated as a Greek industry producing copper tubes.
The decision of the Turkish Ministry of Commerce issued within the scope of an administrative procedure to review the import duty on copper tube products from Greece, determined that the import duty imposed, in 2017, on copper tube products from Greece, which was determined for ELVALHALKOR at 5% in the context of the initial investigation, will remain partially in force for another five years.
The Greek company, as it highlights, reasonably expects an insignificant effect on its financial results of the above decision of the Turkish Ministry of Commerce and notes that it will inform the investing public of any important development.