Deputy Minister of Finance and Supervisor of the Customs Authority Sherif El-Kilany announced this on behalf of Kouchouk during the World Customs Day celebration.
The initiative is part of Egypt’s broader strategy to encourage economic activity by adopting global best practices, reducing customs clearance times, and lowering production and export costs.
In a previous announcement in January, Minister of Investment and External Trade Hassan ElKhatib revealed that Egypt aims to cut customs clearance times, targeting savings of $284 million.
Meanwhile, Kouchouk emphasized that the government is focused on enhancing the efficiency of the customs system as part of fiscal policies designed to stimulate growth and improve competitiveness.
He also underscored the importance of simplifying customs procedures to foster trust and collaboration between local and foreign businesses.
“The government is committed to leveraging international expertise to analyze and reduce customs clearance times for both import and export operations,” Kouchouk stated.
He noted that these reforms align with efforts to improve Egypt’s trade balance and the competitiveness of its goods and services on the global stage.
The government aims to raise Egypt’s exports to $145 billion by 2030.
Therefore, Kouchouk said, Egypt is integrating customs and tax systems, facilitating business processes, and stimulating private sector investment.
This vision aligns with Egypt’s goal to increase the private sector’s share of total investments to 65 percent by 2030.
According to the Ministry of Planning, Economic Development, and International Cooperation, private investments in Egypt surged 30 percent in the first quarter of FY2024/2025.
These measures are also part of Egypt’s ongoing economic reform programme, supported by the International Monetary Fund’s $8 billion Extended Fund Facility loan.
In addition, Kouchouk highlighted that the electronic linkage of all ports through the "Single Window" system will further streamline customs procedures, providing a modern solution to the country’s trade challenges.
The minister concluded that the government remains open to continuous dialogue with investors to understand their challenges better and provide practical, simplified solutions.
This initiative signals Egypt’s commitment to fostering a more competitive and investor-friendly environment as it seeks to boost local and international business activities.
Short link: