Finance Minister Launches First Phase Of Customs Facilitation Measures

(MENAFN- Daily News Egypt) Ahmed Kouchouk, Egypt's Minister of Finance, has revealed that the government is set to launch the first phase of its customs facilitation measures as part of broader efforts to enhance the efficiency of the country's customs system. This initiative aligns with Egypt's financial policies aimed at stimulating economic growth and improving the global competitiveness of its economy.

During the celebration of International Customs Day, delivered by Sherif El-Kilany, Deputy Minister for Tax Policies and Supervisor of the Customs Authority, Kouchouk outlined the government's ongoing work with both local and international partners to localize global best practices. These efforts are focused on reducing customs clearance times and cutting production and export costs, key objectives to foster an environment conducive to investment and trade.

Sherif El-Kilany

The Ministry of Finance is leveraging international expertise to analyze and address challenges related to customs clearance for imports and exports. This includes efforts to improve governance within customs administration, ensuring smoother operations that encourage both local and foreign businesses to expand their industrial and export activities in Egypt.

Kouchouk emphasized that modernizing Egypt's customs system is a critical component of the country's broader efforts to enhance the competitiveness of Egyptian goods and services on the global stage, ultimately contributing to a more favorable trade balance.

In addition, the government is integrating the tax and customs systems to simplify procedures for businesses. A key element of this modernization is the electronic linkage of all ports through a single-window system, which aims to streamline customs processes and facilitate faster clearance. Kouchouk also reiterated the Ministry's commitment to an open dialogue with the private sector, listening to their challenges and developing practical, simplified solutions.

Ian Saunders, Secretary General of the World Customs Organization, also delivered a recorded message emphasizing the importance of customs reform. He highlighted the global customs goals of efficiency, security, and prosperity, underscoring the role of digital services, enhanced data analytics, and innovation in achieving these objectives. Saunders expressed the organization's support for initiatives that foster sustainable economic growth through trade facilitation.

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