Minister of Finance Mohamed Maait has said that the Authorized Economic Operator (AEO) will be expanded to facilitate customs dealings, as it provides many advantages for companies.
This includes a priority role in all customs procedures from registration to release through the unified electronic platform for the national trade window, with the allocation of a committee in each logistic centre to complete the procedures for those joining the approved economic operator.
Its work extends beyond working hours to speed up the pace of customs release, and to enjoy the green path for applying the lowest percentage of actual examination of customs consignments.
Maait stressed, in a statement issued on Wednesday, the ministry’s keenness to effectively contribute to facilitating the movement of international trade, to attract more foreign and domestic investments.
This in turn will help maximise the benefit of Egypt’s strategic location, as it is a centre for production and re-export to various countries, including African ones, he added.
Maait said that Egypt’s advanced infrastructure and promising investment opportunities, made the country more attractive for productive activities, with a political will supporting the private sector and maximizing its participation in the development process.
Head of the Customs Authority Al–Shahat Ghaturi said that Egypt seeks, through the Authorized Economic Operator Programme, to apply the latest global practices in securing goods through the application of a risk management system, and to increase the flow of incoming and outgoing goods circulation, to support the national economy, pointing out that 349 importers, exporters, and extractors customs have already joined the program.
He indicated that cooperation is taking place with government agencies to support programme members and to allocate an operations coordinator at customs sites, to overcome obstacles they face.
The programme will also give them preference in all customs transactions, concerning the release of shipments, settlements for temporary admission and “drawbacks”, providing and refunding guarantees, and refunding taxes and fees.
Furthermore, it will handle customs tax instalment requests, obtaining other facilitations concerning procedures for renewing licenses issued by customs, preference in the case of export using the approved source system, and when using the pre-clearance system in light of the application of the pre-registration system for shipments.
He explained that the clients of the economic operator should follow the pre-clearance system for their shipments before they arrive in the country, to benefit from the advantages allocated to them and the speedy release of their messages.