goods
Additionally, Ghaturi mentioned ongoing efforts to streamline port processes, aiming to reduce the time cargo ships spend docked. Currently, the average duration for investors to file for customs declaration registration stands at 5 days.
President Abdel Fatah El-Sisi held a meeting Sunday with Prime Minister Mostafa Madbouli to follow up on economic affairs of priority and quality of services.
As of March, the accumulated value of goods at Egyptian ports, including petroleum products, stands at approximately $6 billion, Ghatouri added.
Italy and India were noteworthy as well, as Egypt imported goods worth $3.2 billion each from these countries. Additionally, Brazil's imports amounted to $3 billion, while Turkey and Kuwait had imports valued at $2.8 billion and $2.7 billion, respectively.
"During the past 10 days of March, there has been an increase in the release rates of basic goods and directly supportive production requirements for the industry," the Finance Minister, Mohamed Maait, said.
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.
This directive was given during a meeting on Sunday, chaired by the Prime Minister, to monitor the provision of necessary financing in foreign currency for strategic goods and medicines.
The total value of goods is $136.4 billion, which means that there are goods worth $3.5 billion that have not been released yet due to the absence of delivery permits from the foreign source to the Egyptian importer, according to a statement issued by the Ministry of Finance, Wednesday.
Saad noted that those goods are waiting for customs releases to go out to the market.
The Spokesman stated that the meeting witnessed a discussion of some proposals and mechanisms that would speed up the completion of procedures and the exit of containers at the ports.
Egypt’s Prime Minister Mostafa Madbouli has visited Alexandria on Saturday to follow up on measures of releasing goods stuck at ports as per presidential directives.
"Egypt has a sufficient stock of goods which secures the availability of goods to citizens at reasonable prices," Madbouli confirmed.
"It is my pleasure to be the first president of the Arab Republic of Egypt to hold a state visit to Djibouti, which plays a pivotal role in the region," President Sisi said.
The Damietta Port received 29 container ships and cargo vessels over the past 24 hours.
Madbouli stated that the app is aimed at making available correct information in order to raise the awareness of people on various matters making good use of digital technology.
The COVID-19 outbreak has caused a slowdown in consumption, and subsequently, international trade disrupting maritime transportation.
The Ministry of Finance began implementing on Sunday presidential decree no.59/2020 on modifying tariffs on specific goods.
The MERCOSUR agreement support increasing exports to the different international markets and opening new horizons for the Egyptian products, Gamea' said.
It aims to deal in customs with goods contracted with a modern e-commerce system, with the possibility of pre-clearance and payment of customs duties before the arrival of the goods.
The initiative also aims to lift the burden on low-income citizens, who are given an additional 10% discount on all consumer goods offered for sale within the initiative.
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