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Friday, 18 June 2021

Egypt's Sisi ratifies joining customs convention on international trade

The decision was approved by the House of Representatives in August 2020

Ahram Online , Thursday 25 Feb 2021
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President Abdel-Fattah El-Sisi has ratified a decision for Egypt to join the Customs Convention on the International Transport of Goods Under Cover of TIR Carnets, which was signed in Geneva on 14 November 1975, according to a presidential decree published in the official Gazzette on Thursday.

The House of Representatives had approved the decision in August 2020.

However, Egypt announced reservations on claused 2 to 6 in Aticle 57. 

The Convention aims to facilitate the international carriage of goods by road vehicle and the improvement of conditions of transport as one of the factors essential to the development of cooperation among contracting parties.

“The Convention shall apply to the transport of goods without intermediate reloading, in road vehicles, combination of vehicles or in containers, across one or more frontiers between a customs office of departure of one contracting party and a customs office of designation of another,” Article 2 states.

Goods carried under the TIR procedure are not subject to the payment or deposit of import or export duties and taxes at customs offices en route, according to Article 4. 

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