The Korea International Cooperation Agency (KOICA) and Egypt's General Organization of Export and Import Control (GOEIC) on Monday signed an $11m agreement to establish a digital platform aimed at enhancing trade facilitation in Egypt. The Record of Discussion (ROD) was signed in Cairo for the project, titled "Establishment of the Digital Platform for risk-based inspection and tracking to facilitate trade in Egypt." The initiative is set to run from 2025 to 2029. The signing ceremony was attended by KOICA's Deputy Country Director, Lee Myungshyn, and GOEIC's Chairperson, Essam El-Naggar. Also present were Mai Hassab El Nabbi Assal, Assistant Minister of Investment and Foreign Trade for Development Projects, International Relations, and Political Communication, and Eman Fakhry, Senior Manager of the Asian Cooperation Sector at the Ministry of Planning, Economic Development, and International Cooperation. The project aims to streamline Egypt's import cargo inspection processes and bolster the country's global trade competitiveness. Key components include the development of digital systems for cargo risk-based inspection, a laboratory information management system, and a market surveillance system. "We believe this project will significantly enhance Egypt's trade facilitation capabilities, fostering economic growth and sustainability. Our collaboration with GOEIC marks a crucial step towards a more efficient and competitive trade environment in Egypt," Lee Myungshyn, Deputy Country Director of KOICA Egypt Office, said. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, said that "this project is a continuation of the coordinating efforts undertaken by the Ministry in collaboration with all concerned parties to enhance the utilization of Korean grant resources to support the Egyptian government's plans for digital transformation and promote inclusive and sustainable development." She emphasised that through the digital platform for risk-based inspection and tracking, national efforts are supported to facilitate and develop trade flows through digital transformation. Dr. Al-Mashat also highlighted the project's importancein enhancing competitiveness by accelerating inspection and customs clearance processes, thereby reducing administrative barriers and ensuring compliance with international standards in foreign trade. Hassan El-Khatib, Minister of Investment and Foreign Trade, indicated that "this project is part of the state's vision to govern ports, accelerate, simplify, and reduce the cost and time of conformity assessment procedures for goods at ports, aiming to decrease release times to reach global standards." He added that this includes tightening control over the trading, importing, and exporting of low-quality goods, in line with Egypt's international commitments under the World Trade Organization's "Trade Facilitation Agreement" regarding the implementation of integrated risk management systems in cross-border trade. Essam Al-Naggar, Chairperson of the General Authority for Export and Import Control, praised "the support from the Korean government for implementing this project, which will contribute to establishing a modern integrated system for monitoring the import of industrial goods, including market surveillance, similar to practices in developed countries." KOICA is a Korean government agency under the Ministry of Foreign Affairs, dedicated to implementing grant aid programmes designed to combat poverty and support sustainable socio-economic growth in developing countries worldwide. The KOICA Egypt Office, established in 1998, provides technical and technological education for youth in Egypt, supports the digitalisation of government services and systems, and carries out programmes to address gender-based violence, strengthen women's empowerment, and support vulnerable groups.
