Anatolia News Agency reported that Turkeys iron and steel sector has been left up in arms by a recent United Arab Emirates decision to impose tariffs on Turkish steel imports.
Mr Veysel Yayan secretary general of the Turkish Iron and Steel Producers Association said''The UAE market is crucial for us.It is a leading export market for us.We do not know the details of the new regulation in full,but it is negative for the sector.''
The UAE,one of the top markets of Turkish steel and iron exporters,has lifted a customs tax exemption in the sector to protect local companies.The UAE will implement the 5 percent tariff on construction iron from Turkey starting January 5th 2013.
The move will affect export prices by USD 35 per tonne.
