Egypt and South Korea are set to launch an integrated risk management and tracking project for industrial and non-food goods, backed by a grant exceeding 600 million Egyptian pounds from the Korean government. The initiative aims to enhance regulatory oversight and streamline trade processes through advanced digital systems. Scheduled to run from June 2025 to the end of 2029, the project will focus on developing a digital risk-based inspection system (e-RBI) for non-food industrial goods, establishing a laboratory information management system (LIMS), and creating a digital tracking platform. This platform will include a Digital Product Passport (DPP) for local industrial products, ensuring better traceability and compliance. In this context, Egypt's Minister of Investment and Foreign Trade Hassan El-Khatib met with a delegation from the Korea International Cooperation Agency (KOICA) to discuss the project's implementation. The meeting reviewed plans for developing a digital risk management system in cooperation with the General Organisation for Export and Import Control (GOEIC), reinforcing Egypt's trade infrastructure. Minister El-Khatib emphasised that the project will play a crucial role in strengthening Egypt's port governance strategy, reducing the cost and time of conformity assessments, and improving trade efficiency. Furthermore, it aims to tighten controls on the circulation, import, and export of low-quality goods while ensuring compliance with Egypt's commitments under the World Trade Organisation's Trade Facilitation Agreement. Discussions also covered the project's phased implementation, including linking laboratory management systems, enhancing market monitoring, and improving information exchange and rapid alerts. The first phase will commence following the signing of the Record of Discussions (ROD) agreement between Egypt and South Korea. This phase will involve providing equipment, designing software, and deploying artificial intelligence and machine learning applications to optimise risk-based trade oversight. As part of the initiative, a KOICA delegation will visit GOEIC from 9 to 20 March 2025 under the project titled Establishing a Digital Platform for Risk-Based Inspection and Tracking to Facilitate Trade in Egypt. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
