CAIRO - 25 March 2024: Prime Minister Mostafa Madbouly, the Egyptian government reviewed the progress of customs release procedures for goods at the country's ports and discussed the activation of the advance shipping system in a cabinet meeting today.
The Egyptian government's focus on facilitating the customs release process reflects its commitment to ensuring the efficient movement of goods and commodities across the country. By actively engaging with the banking system to provide the necessary dollar funds, the government aims to support businesses and traders by streamlining customs procedures and promoting timely delivery of goods.
The Prime Minister reaffirmed the government's commitment to monitor the customs release process at various Egyptian ports closely, emphasizing the crucial role played by the banking system in providing the necessary dollar funds for the release of goods and commodities.
During the meeting, the official spokesperson for the Egyptian Cabinet, Mohamed Al-Hommsani, reported that the customs release of goods was proceeding smoothly without any major issues. However, it was noted that there were instances where the procedures for goods had been completed, the required dollar component had been provided, but the owners had not yet received their goods. In response, the Prime Minister directed immediate communication with the owners to facilitate the prompt release and receipt of their goods.
The meeting also involved a comprehensive review of the value of goods that had been registered and released at customs ports. It was highlighted that there had been a significant increase in the total value of released goods and strategic commodities. This increase was attributed to the availability of foreign exchange in recent weeks. Notable among the goods that had been successfully released were feed additives, rice, fish, medicine, fertilizers, serums and vaccines, agricultural seeds and seeds, corn, butter, oil, beans, lentils, wheat, pharmaceutical chemicals, meat, tea, soybeans, infant formula, medical supplies, live poultry, and corneas.
The government's efforts to enhance the customs release process align with its broader objectives of fostering economic growth and stability. By addressing any delays and ensuring the smooth flow of goods, the government aims to bolster trade activities and create a favorable business environment.
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