PM follows up on streamlining customs release of goods at Egyptian ports

Prime Minister Mostafa Madbouly chaired a meeting today to discuss the position on customs release of goods and the implementation of the advanced shipping system. The meeting was attended by key officials, including the Minister of Finance, the Minister of Trade and Industry, representatives from the Central Bank, the Head of the Customs Authority, and other relevant stakeholders.

 

During the meeting, the Prime Minister emphasized the urgent need to expedite customs procedures for the release of goods and merchandise at various Egyptian ports. This measure aims to boost the supply of essential commodities, manufacturing inputs, and medicines in the Egyptian market.

 

The availability of foreign currency from the banking system has facilitated this initiative.

 

The Minister of Finance, Mohamed Maait, highlighted the issuance of a circular that mandates the customs administrations to take necessary measures for the transfer and sale of neglected goods in accordance with the provisions of Customs Law No. 207 of 2020 and its executive regulations. These measures will be implemented starting from April 1, 2024.

 

Furthermore, Circular No. 18 of 2024 supersedes Circular No. 43 of 2023, which previously prohibited the referral of goods located in ports or temporary warehouses for neglect or sale without prior authorization. Under the new circular, relevant customs administrations must submit a memorandum to the head of the authority, including details of the goods' condition and expiration date if applicable, before taking any action.

 

Egyptian banks have successfully provided full financial support to cover all pending import requests for essential commodities at Egypt's ports, effectively eliminating the lengthy waiting list, according to Egyptian bankers speaking to Asharq Bloomberg. 

 

This has resulted in the prompt release of goods, particularly food commodities, medicines, feed, and production necessities. 

 

The Head of the Egyptian Customs Authority, El Shahat Ghatouri, recently informed Asharq Bloomberg that Egypt has cleared goods valued at over $14.5 billion from January until the previous week's end.