Egypt to launch 1st phase of customs facilitation measures to boost economic growth

Deputy Minister of Finance and Supervisor of the Customs Authority Sherif El-Kilany announced this on behalf of Kouchouk during the World Customs Day celebration.

The initiative is part of Egypt’s broader strategy to encourage economic activity by adopting global best practices, reducing customs clearance times, and lowering production and export costs.

In a previous announcement in January, Minister of Investment and External Trade Hassan ElKhatib revealed that Egypt aims to cut customs clearance times, targeting savings of $284 million.

Meanwhile, Kouchouk emphasized that the government is focused on enhancing the efficiency of the customs system as part of fiscal policies designed to stimulate growth and improve competitiveness.

He also underscored the importance of simplifying customs procedures to foster trust and collaboration between local and foreign businesses.

“The government is committed to leveraging international expertise to analyze and reduce customs clearance times for both import and export operations,” Kouchouk stated.

He noted that these reforms align with efforts to improve Egypt’s trade balance and the competitiveness of its goods and services on the global stage.

The government aims to raise Egypt’s exports to $145 billion by 2030.