Minister of Finance Mohamed Maait has said that about $32bn worth of imported goods and products were released from various Egyptian ports during the past five months. Basic commodities, food manufacturing components, medicines, and production requirements are considered a top priority, to ensure the sustainability of production at full capacity, and alleviate the burdens of importers.
Maait stressed the government’s keenness on supporting the efforts to secure the state’s strategic stock of basic commodities for citizens to maintain the volume of quantities offered in the local markets, and then create favorable conditions for price stability as much as possible. This would eventually contribute to reducing the negative effects of the war in Europe, and its consequences, as well as the ramifications of the disruption in supply chains, and an unprecedented rise in global prices for goods and services.
He added that the automation of the customs system accelerates custom release procedures for goods, to achieve the strategic goal of transforming ports into transit ports only, not places for storage. This would effectively contribute to reducing production costs and stimulate the business community to expand investment activities. It would also protect markets from low-quality goods that do not conform to European and American specifications.
Al-Shahat Ghaturi, Head of the Customs Authority, said that the levels of readiness and preparedness in the ports and customs outlets have been raised and working hours have been doubled. The aim of that is to ensure the speedy release of goods.
He added that the facilitation procedures will continue, to prevent the accumulation of goods in ports, including stopping the collection of customs fines from investors and importers who are late in completing customs procedures due to the documents required to be completed by the relevant authorities.