Egypt plans to be a global logistics hub that serves the international trade flow and attracts investments, according to head of Egypt’s Customs Authority (ETA) El-Shahat Ghatouri.
Ghatouri made his statements during a tour on Monday of the Logistic Service Centre at Cairo Airport.
He also said that Egypt is adopting a plan that focuses on modernising and rehabilitating the country’s customs management with the objective of easing procedures and reducing the time that commodities take to be released from sea and air ports.
This will also contribute to reducing the prices of commodities and services in the domestic market, according to Ghatouri.
He also noted that all logistics service centres are being linked with the General Organisation for Export and Import Control and the National Food Safety Authority, as well as the ministries of interior and communication, for the sake of reducing commodity clearance time.
On Saturday, Minister of Finance Mohamed Maait announced that the entry of cargo and freight from abroad that is not registered in the new cargo information system will be banned.
The action aims at facilitating customs procedures.
The new system also aims to improve Egypt’s rating in global international indicators, catalyse the investment atmosphere, and maximise the competitiveness of Egyptian exports, he added.
Four-hundred leading importers have registered in the system since its pilot launch in April, according to finance ministry.