(MENAFN- Daily News Egypt)
Egypt's Minister of Trade and Industry Ahmed Samir, held an extensive meeting with Korea International Cooperation Agency (KOICA) Country Director Jinyoung Kim, and her accompanying delegation. The meeting reviewed the agency's project to implement a digital system for integrated and comprehensive risk management submitted by the General Organization for Import and Export Control (GOEIC).
The move signifies a major step towards Egypt's vision of efficient port governance, aiming to simplify, expedite, and reduce costs associated with conformity assessment procedures while strengthening control over substandard imports and exports, according to the minister.
This aligns with Egypt's international obligations under the World Trade Organization's Trade Facilitation Agreement.
The Minister said that the meeting tackled the proposed implementation components to activate an integrated system for controlling imports of industrial and non-food goods, which includes establishing and networking the Authority's laboratories with the information management system, tracking system, monitoring local markets, and exchanging information. In addition, rapid warning of supply chains and movement of goods to facilitate trade based on risk management within local markets.
Samir added that the meeting discussed the relationships associated with these components and the impact of digital governance in tracking and speeding up the exchange of information at all stages of control and trading of industrial and non-food goods. This starts with border control procedures and passing through procedures for monitoring markets, locally manufactured Egyptian products, and supply chains, and vice versa.
The Minister highlighted the commitment of the Ministry's authorities to support monitoring systems for internal markets and locally manufactured products in Egypt.
He noted that the project consists of three phases starting from 2025 to 2029 and includes equipment, software design, and the supply of digital devices to fully implement the system using the latest artificial intelligence and machine learning application systems in addition, to data analysis in this field.
South Korea is one of the most advanced countries in the world in implementing this system, according to the minister.
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