Finance Minister Mohamed Maait highlighted the government’s efforts to expedite customs clearance for production supplies to strategic items and priority sectors such as pharmaceuticals, petroleum products and fuel. He said this will facilitate trade, increase production, support domestic industry, secure national strategic reserves and improve the availability of essential goods in local markets.
Finance Minister Maait said in a statement from the Ministry of Finance today, Saturday, that from January 2023 to mid-October this year, various goods worth $56.7 billion were cleared by customs. These goods include $15.1 billion worth of strategic items and $26.2 billion worth of produced goods and services, reducing customs clearance times and costs for import and export operations amid current global economic challenges. , reflecting efforts to stimulate investment.
He also mentioned the establishment of a standing committee and technical support team to simplify customs procedures at various ports and terminals, make Egypt a regional hub for transit trade and develop national plans for export expansion. He reaffirmed the government’s commitment to promoting this goal. He said recent amendments to some provisions of the Implementing Regulations of the Customs Law are aimed at improving governance and streamlining customs procedures.
Al Shahat Ghaturi, Director-General of the Customs Authority, announced that he will electronically connect all ports through the integrated platform Nafeza, establish a logistics center for customs clearance services, introduce a cargo pre-registration system and implement advanced technologies. He explained the measures taken to implement the system. The working system helped reduce average customs clearance times and facilitate processing in the customs system, contributing to Egypt’s transformation into a global trade hub.
