ArabFinance: Alexandria Customs issued clearance letters for European-made cars and automotive parts at a value of EGP 3.90 billion in July, Head of Customs Authority Elsayed Kamal Negm said in an August 6th statement.

Negm added that the customs authority collected EGP 1.10 billion worth of taxes and fees last month, as part of the zero customs tariff reduction which started in January 2019.

Private cars led in terms of quantity at 8,164 as well as value, which totaled EGP 2.25 billion. The authority collected about EGP 664 million tax and fees, Negm said.

Since the beginning of the zero-tariff application 19 months ago, the exempted value for private cars exceeded EGP 1.13 billion.

It was reported that the EU-Egypt Association Agreement, which has been in force since 2014, led to a full exemption of customs duties on imported European cars.

The zero tariffs decision was also claimed to be applied to some Korean and Japanese cars that are produced in the European Union states.

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