EGX closed in mixed notes on Sept. 15    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    EHA launches national telemedicine platform with support from Egyptian doctors abroad    Madbouly reviews strategy to localize pharmaceutical industry, ensure drug supply    Al-Mashat tells S&P that Egypt working to reduce external debt, empower private sector    Cairo's real estate market shows resilient growth as economy stabilizes: JLL    Egypt's real estate market faces resale slowdown amid payment pressures    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt renews call for Middle East free of nuclear weapons، ahead of IAEA conference    Egypt's EDA, Korean pharma firms explore investment opportunities    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



250 importers join Egypt's ACI system within month: Finance Minister
System forms part of electronic information platform that aims to facilitate, enable customs procedures
Daily News Egypt Published in Daily News Egypt on 12 - 05 - 2021

Egypt's Minister of Finance Mohamed Maait has revealed that 250 importing companies joined the Advance Cargo Information (ACI) system for pre-registration of shipments within a month since its experimental launch on 1 April.
Some 1,000 customs transactions were recorded through seaports before shipping from the export country, while 4,400 foreign exporters registered on the international secure platform for exchanging data powered by blockchain technology.
This took place in preparation for the implementation of the ACI system, in accordance with the established controls and procedures.
The system forms part of Egypt's electronic information platform that aims to facilitate and enable customs procedures in a way that helps reduce customs clearance times. It also aims to reduce the cost of goods in local markets, whilst strengthening governance.
Maait pointed out that Egypt is one of the first countries in the region to implement the ACI system. This is in line with the developed global systems used in cross-border trade, as it is based on processing shipments data during the "pre-shipment" stage in the country of export.
The minister said that the next stage will see the standard code written in the electronic tax invoice and the import invoice unified. This will come as part of the Ministry of Finance's plan for electronic linkage between the tax and customs services.
It will take place in a way that contributes to facilitating trade and strengthening governance, achieving tax and customs justice, and integrating the informal economy into the formal economy.

Clic here to read the story from its source.