Egypt is enhancing its customs procedures to support the business community, as discussed in a recent meeting led by Prime Minister Mostafa Madbouly. The proposed reforms, which include 19 legislative and procedural changes, aim to streamline customs clearance and improve trade efficiency. Initial measures have already been implemented, including extended working hours for customs clearance agencies, to facilitate smoother operations and reduce delays.
In a meeting held at the New Administrative Capital, Prime Minister Mostafa Madbouly and key government officials discussed significant reforms aimed at enhancing Egypt’s customs system. These officials included Minister of Finance Ahmed Kouchouk and Minister of Investment and Foreign Trade Hassan El-Khatib, among others. This initiative is part of a broader strategy to create a collaborative environment for local and foreign businesses, promoting economic growth through improved customs processes.
The proposed reforms, as outlined by Finance Minister Ahmed Kouchouk, encompass 19 legislative and procedural changes designed to streamline customs clearance and expedite payments. These measures enhance oversight at entry points, aiming to simplify customs tax payments and facilitate a pre-clearance system, thereby improving communication with customs stakeholders. The comprehensive changes are intended to significantly reduce customs dispute resolution times and bolster the technical capacity of customs personnel.
Minister of Investment and Foreign Trade Hassan El-Khatib presented initial facilitation measures that focus on improving customs clearance efficiency. Notably, certain measures have already been enacted, such as extending the operational hours of customs clearance agencies to seven days a week. This change has already enhanced supply chain operations by preventing delays and expediting the delivery of essential goods.
The newly implemented measures are expected to decrease customs inspection times and accelerate import-export processes. This will facilitate a smoother release of production supplies, reduce congestion at ports, and encourage industrial activity near dry ports. The Prime Minister emphasized the importance of swift execution of these measures in preparation for their official announcement.
In conclusion, Egypt is taking decisive action to refine its customs processes, promoting a more business-friendly environment. By implementing significant reforms and extending operational capabilities, the government seeks to enhance trade performance and stimulate economic growth.
The Egyptian government is committed to reforming its customs procedures to create a more efficient business environment. These reforms, focused on facilitating trade and improving operational capabilities at customs, are anticipated to promote economic growth and strengthen relationships with both local and foreign businesses. The swift implementation of these measures signifies a proactive approach to enhancing trade efficiency in Egypt.
Original Source: www.dailynewsegypt.com
