Egypt has released goods with a value exceeding $79 billion during the period from January 2024 to January 8th.

Egypt is preparing to sign agreements with Bahrain and the UAE in early 2025 to reduce customs clearance times for exports and imports to just a few hours.

Egypt and Saudi Arabia have reached an agreement to reduce the customs clearance time for goods between the two countries to just three to four hours, instead of three days.

The Ministry of Investment and Foreign Trade is taking steps to enhance the country's investment climate and foster greater competitiveness by simplifying procedures, removing barriers, and ensuring a supportive institutional and regulatory environment, investment minister Hassan El-Khatib said in a press conference.

The Federation of Egyptian Industries’ (FEI) pharmaceutical division is seeking exemption from customs duties on ineffective pharmaceutical materials.

Egypt is targeting garnering up to EGP 100 billion in customs revenues for the upcoming fiscal year (FY) 2024/2025, which is higher than the current FY’s target of EGP 70 billion, Chairman of the Egyptian Tax Authority (ETA) El-Shahhat Ghattori stated.

The Egyptian Customs Authority is currently working on reducing the customs clearance period via the pre-clearance system, the authority’s Deputy Head Ahmed Abou El Hassan said on the sidelines of the “Challenges and Opportunities Facing Investors” seminar organized by the British Egyptian Business Association (BEBA).

Egyptian Prime Minister Mostafa Madbouly has directed the government to set a plan for the gradual customs release of goods at ports.

The Egyptian Minister of Finance Mohamed Maait has issued a resolution amending some provisions of the executive regulations of the Customs Law.

Minister of Finance Mohamed Maait has issued a resolution amending some provisions of the Customs Law’s executive regulations.

The Egyptian government has released $131 billion worth of imported goods from ports and customs outlets in 21 months to June.

The Ministry of Finance agreed to make some amendments to the customs law to enable tourists and transients of purchasing a maximum of three liters of alcohol from state-owned duty-free shops, up from two liters now.

Egyptian Parliament has approved on February 28th the request submitted by the government to cut customs tariffs imposed on some components of smartphones and screens, in addition to exempting some components from tariffs.

Egyptian banks will provide the required dollars to clear a backlog of goods piled up at ports due to the shortage of hard currency since the beginning of 2022, Asharq Business reported on December 26th, quoting President Abdel Fattah El-Sisi. Egypt will not reduce spending on national projects to ease pressure on USD reserves, El-Sisi added during the inauguration of two medical and industrial gases factories and a tri-generation power plant in the Abu Rawash Chemicals Complex in Giza.

The Egyptian government released $1.236 billion worth of goods and commodities from ports between December 24th and 30th, Prime Minister Mostafa Madbouly announced, according to an official statement on December 31st. Since the beginning of December and until December 23rd, the government released $5 billion worth of goods that were stuck at ports, Madbouly revealed.

The Egyptian markets have witnessed a commodities shortage over the past months due to the accumulation of goods at the ports. However, the government began to take measures to secure foreign currency, in order to gradually release the stuck goods at ports for the importance they set, prioritizing food commodities, food manufacturing components, medicines, and production requirements.