Egypt's government has cleared more than $79 billion worth of imported goods from January 2024 to January 8, 2025, according to a Cabinet statement released on Thursday. This includes $33 billion in production materials and raw materials, along with $20 billion in strategic goods, demonstrating the country's continued focus on facilitating trade and ensuring the steady flow of essential goods into the market. The announcement followed a high-level meeting chaired by Prime Minister Moustafa Madbouly to review the latest progress in the country's customs clearance operations. The session, which was attended by key officials, including Minister of Finance Ahmed Kouchouk and Minister of Industry and Transport Kamel El-Wazir, centered on the government's ongoing efforts to reduce the time required for goods to clear customs. These initiatives are aimed at improving the availability of goods for Egyptian consumers and ensuring the smooth supply of vital materials for local industries, contributing to overall market stability and economic growth. Prime Minister Madbouly stressed the government's determination to create a more efficient customs system. He highlighted that collaboration between various agencies has already led to a reduction in processing times, but acknowledged that more work is needed to achieve the set goals. The meeting also discussed the continued implementation of the pre-shipment registration system, which has proven effective in speeding up the customs process. Additionally, the government is working on legislative reforms to further enhance customs procedures and ensure smoother operations at Egyptian ports. Mohamed El-Hammasy, spokesperson for the Prime Minister's office, shared that the meeting included a detailed analysis of goods cleared under the pre-registration system, with particular focus on both petroleum and non-petroleum products. These efforts reflect Egypt's strong commitment to enhancing its trade infrastructure, benefiting both domestic industries and international trade relationships. Attribution: Amwal Al Ghad English
