Goods worth over $12B released from Egyptian ports since January

CAIRO - 7 March 2024: Goods worth over $12 billion have been released from Egyptian ports from January 1st until now, head of the Egyptian Customs Authority, El Shahat Ghatwary, stated.

 

He added that the past few days witnessed a significant growth in the rate of customs clearance for goods according to the strategic priorities set by the state. 

 

Ghatwary affirmed that the rates of customs clearance for goods and production supplies would increase in the coming days in coordination with the banking sector.

 

Earlier today, Prime Minister Mostafa Madbouly estimated the value of stacked goods in Egyptian ports to be around $6 billion.

 

During a press conference, the Prime Minister stated that customs clearance procedures have begun for goods, shipments, and essential production supplies from four Egyptian ports.

 

"We have provided significant liquidity, and we have confidence in managing the required free currency to drive the Egyptian economy in the coming period," added the Prime Minister.

 

Madbouly affirmed that the Central Bank is capable, in the upcoming period, of managing the dollar needs for citizens, with priority given to foodstuffs, medicines, production supplies, and petroleum products.

 

He clarified that consumer goods and fully manufactured products are at the "bottom of the priorities" list, as he expressed it.

 

During his visit to the Alexandria port earlier on Thursday, Mostafa Madbouly, the Prime Minister, inspected a group of containers at the port, currently being released, containing various goods and merchandise.

 

Madbouly emphasized the swift release of goods and merchandise in various ports to increase the supply of commodities in the markets. This contributes to achieving a balance in prices and reducing them in the upcoming period, aligning with the state's commitment to alleviate the living burdens on citizens.

 

Madbouly highlighted the coordination and collaboration between different state entities to facilitate necessary procedures for the immediate release of goods and merchandise. This enables rapid intervention to overcome any obstacles. He noted that the newly implemented electronic customs systems facilitate the acceleration of customs clearance for goods, ensuring their quick entry into local markets and production units.