The Government of Egypt will next month implement a new trade facilitation technology which will improve processing time and reduce costs for all exporters to the country.
The new process – the Advance Cargo Information (ACI) system – is a block-chain based technology that will helpfully automate the customs process for all goods entering Egypt. Using electronic data, the new system will identify goods before they are shipped, enabling goods to be checked and cleared before they reach Egyptian ports.
The ACI system, which has been undergoing pilot tests since 2019, will be implemented at all of Egypt’s ports in 2021. Already, 16,000 companies importing goods into Egypt have registered on the new ACI system.
Egypt has embarked on ambitious plans to transform its trade infrastructure, including the modernization of its entire customs management system. In April 2019, the Government launched the National Single Window for Foreign Trade Facilitation (Nafeza), a single digital trade portal for all import, export, and transit operations, linking up all Egypt’s ports.
Nafeza is recognized and supported by a range of international institutions, including the World Customs Organization (WCO).
Egypt’s transformation program has also led to the establishment of high-tech logistics centers across Egypt, ensuring that port facilities are used to transit goods rather than store them.
Independent evaluation of Nafeza shows that customs processing times have already improved by 55%. The Government plans to reduce customs clearance time to less than one day.
Egypt is Africa’s second-largest importer, responsible for total imports in 2019 valued at USD 78.6 billion (World Bank-WITS). The country is the largest importer of wheat and asphalt in the world (FAO/OEC).
H.E. Dr. Mohamed Maait, Egypt’s Minister of Finance, says: “The implementation of the Advance Cargo Information system is a crucial step in our plans to transform Egypt’s trade infrastructure. This new technology will make it much easier for companies all over the world to trade with Egypt, helping to deliver the Government’s plan to create the most advanced logistics hub in the region.”
Mr. Jan Noether, the Chief Executive Officer of the German Chamber of Commerce (AHK) in Egypt, says: “This new trade facilitation technology will make it simpler, easier, and cheaper for all companies exporting goods to Egypt. It shows that Egypt is not only open for business but serious about maximizing its location at the crossroads of the world to become one of the world’s great trading economies.”
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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