The Egyptian Finance Ministry has set up a plan to upgrade the customs clearance system, making it more strict, while relaxing measures for importers and exporters.

Youssef Boutro Ghali, the Finance ...

The Egyptian Finance Ministry has set up a plan to upgrade the customs clearance system, making it more strict, while relaxing measures for importers and exporters. Youssef Boutro Ghali, the Finance Minister, says the plan aims at reducing the time wasted in clearance procedures to less than three hours. Indeed, logistic centers have been established to facilitate customs measures. About the upgraded customs clearance, Galal Abul-Fotouh, an advisor to Ghali, said that it includes the drawback system which is meant to let commodities subject to taxation be exported and sold in a foreign country on the same terms as goods from countries where they are untaxed. (Source: Arab Finance )