Egyptian Finance Minister reveals release of goods valued higher than USD8B

(MENAFN) In a statement issued today, Friday, Egyptian Finance Minister Mohamed Maait revealed that the country's customs department has released goods valued at more than USD8 billion since the beginning of March. Minister Maait underscored the government's concerted efforts in collaboration with various government agencies to address any import-related challenges leading to the accumulation of goods in ports. Emphasizing a proactive stance, he affirmed that goods remaining in ports beyond legally stipulated periods would be dealt with decisively.

Minister Maait highlighted that despite the availability of dollar resources in banks, certain importers have hesitated to release their shipments without valid legal reasons. This reluctance has prompted the government to announce its intent to take stringent measures against such importers, ensuring the immediate release of goods in adherence to relevant laws and regulations.

The Minister's remarks reflect the Egyptian government's commitment to streamlining import procedures and facilitating trade activities while upholding legal frameworks and regulations. By addressing bottlenecks in the customs clearance process, the government aims to foster a conducive environment for businesses and promote efficient trade operations.

Minister Maait's announcement signals a proactive approach by Egyptian authorities to mitigate delays and enhance the efficiency of import processes. By implementing measures to expedite the release of goods, the government seeks to support economic activities and bolster trade dynamics, contributing to the overall growth and stability of Egypt's economy.



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