By Daniel Webster, dWeb.News Publisher
CAIRO–(BUSINESS WIRE)–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 help fully automate the customs process for all goods entering Egypt. The new system, which uses electronic data to identify goods before shipping, will allow goods to be checked and cleared prior to reaching Egyptian ports.
The ACI system, which has been undergoing pilot tests since 1 April 2019, will be implemented at all Egypt’s ports on 1 October 2021. Already, 16,000 companies importing goods into Egypt have registered on the new ACI system.
Egypt is pursuing ambitious plans to improve its trade infrastructure. This includes modernizing 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 has been recognized and supported by several international institutions, including WCO.
Egypt has established high-tech logistic centres throughout Egypt as a result of its transformation program. These centers will allow goods to be transported rather than stored at port facilities.
Independent evaluation of Nafeza shows that customs processing times have already improved by 55%. The Government intends to cut down customs clearance times to less than one hour.
Egypt is Africa’s second largest importer, responsible for total imports in 2019 valued at USD 78.6 billion (World Bank-WITS). It is the biggest importer of asphalt and wheat in the world (FAO/OEC).
H.E. It will make it easier for businesses all around the world to trade goods with Egypt. This technology is a key step in our plans to transform Egypt’s trade infrastructure. It shows that Egypt is not only open for business, but serious about maximising its location at the cross-roads of the world to become one of the world’s great trading economies.”
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