Egypt has managed to successfully implement a new system for customs clearance and pre-registration of shipments in a record time, said Finance Minister Mohamed Maait.
The system, identified as Advance Cargo information (ACI), requires importers to provide shipment data electronically at least 48 hours before cargo shipment’s arrival in Egypt.
During a meeting organized by Alexandria Chamber of Commerce under Ahmed el Wakil on Sunday, the minister urged the business community with all its segments to cooperate in order to implement presidential directives to reduce customs clearance time to less than one day.
He, meanwhile, said that the world is experiencing supply chain shock due to the repercussions of the Covid-19.
He also pointed out to the increase in inflation rates, noting that the US inflation rate hit 6.8 percent.
Despite all the global challenges, the State is working toward providing commodities and achieving the perfect balance between supply and demand, he went on to say.
He also said that 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, for his part, voiced happiness for holding this meeting, pointing out to the finance minister's keenness on improving business environment, which will 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, he affirmed.
