27,000 importers registered with Egypt’s ACI system

Mohamed Maait made the remarks during a meeting Saturday with a group of Egyptian investors as well as industry and trade community representatives.

Nafeza is also meant to exchange all required information and documents among all parties that are involved in the foreign trade system in Egypt, providing mechanisms that facilitate foreign trade procedures, standardise invoices, apply a digitized payment system, unify the necessary forms for releasing goods, and develop performance monitoring indicators.

Maait noted that 68,000 foreign companies have registered with the Advanced Cargo Information (ACI) system since October, adding that 65,000 custom clearance certifications have been issued.

The ACI system, which came into effect as of 1 October 2021, provides public and private trade operators with holistic electronic cargo information prior to the arrival of shipments to the country of importation in order to facilitate processing and clearance.

The system was adopted under Egypt’s strategy of digital transformation, which is in line with Egypt’s 2030 Vision and its sustainable development goals agenda.

“Nafeza has contributed to saving $400 for every single cargo and helped decline the time of the cargos clearance through submitting the cargo’s documents to the online platform without a need to the paper documents, which easing the procedures of signing and approving them,” Maait explained.