Tahya Misr Terminal: Steps transforming Egypt into int’l trade hub

CAIRO - 15 June 2023:  Finance Minister Mohamed Maeit detailed on Thursday his ministry’s efforts in the past four years to transform Egypt’s international trade role both legislatively and logistically. 

During the inauguration of Tahya Misr Terminal in Alexandria, Maeit said that to transform Egypt into an international trade hub, the government has followed five strategies:

1- Updating legislation

2- Automating procedures and digital transformation

3- Facilitating procedures and managing change

4- Human development

5- Future outlook 

The customs law in place for 65 years was updated in 2020, serving as a legislative umbrella for the single window system, the finance minister said. 

Four amendments to the customs tariff provisions were passed in four years. The amendments are meant to encourage national industry, production, and export.

Meanwhile, the strategy of automation and digital transformation includes:

1- Logistics centers at customs ports

2- The single window system

3- Pre-registration system for ACI shipments

4- Networking of x-ray detectors

5- The comprehensive risk management system

6- In July, networking of the electronic invoice window system

A total of 15 logistics centers at customs ports have been established to cover 47 customs sites in 21 ports. These centers reduced customs release time, the minister explained. 

Further, two systems of standard specifications and import governance have been applied to the ACI system.