The Egyptian Customs Authority, represented by chairperson Magdy Abdel Aziz, and the General Authority for the Control of Exports and Imports, represented by Alaa Abdel Karim, signed a cooperation protocol to electronically link both bodies for information exchange, Minister of Finance Amr El-Garhy announced.
According to the minister, this link is one of the most important factors for reducing the total time for clearing goods, which in turn affects their prices.
“E-link operations require coordination between bodies and observation of problems that may hinder operations to find solutions,” the minister said.
He noted that the Ministry of Finance is keen to follow the latest international customs standards issued by the World Customs Organisation (WCO) and the World Trade Organisation (WTO) and follow the one-stop shop international standards system, as well as the global schemes for risk management and subsequent review.
Abdel Aziz said the Customs Authority works to provide a distinct customs service in foreign trade, in accordance with international regulations.
He noted that the protocol aims to support and activate the work cycle and procedures for the exchange of data and information, as well as the one-stop shop system, in order to reduce customs clearance time. Moreover, employees will receive rehabilitation training through an integrated information network across different ports.
The Egyptian Customs Authority seeks to complete linking its systems with the relevant authorities concerned with international trade, such as the Egyptian Tax Authority, the Central Bank of Egypt and air cargo companies, which reduces clearance time, thus lowering import costs.