Egypt has managed to successfully implement a new system for customs clearance and pre-registration of shipments in a record time
· The system called Advance Cargo information (ACI), requires importers to provide shipment data electronically at least 48 hours before cargo shipment’s arrival in its shores
· The minister was addressing a meeting organized by the Alexandria Chamber of Commerce and urged the business community to cooperate in order to implement presidential directives to reduce customs clearance time to less than one day.
Egypt has managed to successfully implement a new system for customs clearance and pre-registration of shipments in a record time. This was revealed by Finance Minister Mohamed Maait.
The system called Advance Cargo information (ACI), requires importers to provide shipment data electronically at least 48 hours before cargo shipment’s arrival in its shores.
The minister was addressing a meeting organized by the Alexandria Chamber ofCommerce and urged the business community to cooperate in order to implement presidential directives to reduce customs clearance time to less than one day. He also referred to the supply chain shock due to the repercussions of the Covid-19.
Despite all the global challenges, the minister said the State was working toward providing commodities and achieving the perfect balance between supply and demand. The automated tax system facilitates measures for taxpayers, helps in identifying the tax community more precisely, achieves tax justice and collects the State’s right.
Alexandria Chamber of Commerce Chief Ahmed el Wakil, appreciated the finance minister’s keenness on improving the business environment. This, he said, would contribute to providing more job opportunities and beefing up exports.
The business community is keen on cooperating with the Finance Ministry in order to implement development projects.
