$56.7bn worth of goods cleared from customs since January: Finance Minister

Daily News Egypt
2 Min Read

Finance Minister Mohamed Maait has stressed the government’s commitment to speeding up the customs clearance process for strategic items, such as pharmaceuticals, petroleum products, and fuel, as well as production supplies for priority sectors. He said this would help facilitate trade, increase production, support national industry, secure the state’s strategic stockpile, and enhance the availability of essential commodities in the local markets.

Maait said in a statement from the Finance Ministry today, Saturday, that from January 2023 to mid-October of this year, various goods worth $56.7bn were cleared from customs. These goods included strategic items worth $15.1bn and production supplies and services worth $26.2bn, reflecting the efforts to reduce the clearance time, lower the costs of import and export operations, and stimulate investment amid the current global economic challenges.

He also mentioned the formation of permanent committees and technical support teams to simplify customs procedures at different ports and terminals, reaffirming the government’s commitment to making Egypt a regional hub for transit trade and boosting the national plan to increase exports. He said that recent amendments to some provisions of the executive regulations of the Customs Law aim to improve governance and streamline customs procedures.

Al-Shahat Ghaturi, the head of the Customs Authority, explained that the measures taken to electronically connect all ports through the unified platform “Nafeza,” establish logistical centers for customs services, implement a pre-registration system for shipments, and adopt advanced technology in work systems have helped shorten the average customs clearance time and ease dealings with the customs system, contributing to transforming Egypt into a global trade hub.

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