Cairo – Mubasher: Egypt has introduced a new customs system that would allow the clearance of commodities of certain companies registered with the Authorized Economic Operator through “green channels”, the country’s finance minister Mohamed Maait said.
The new system will be applied as of 20 November in a bid to reduce clearance time, cut the costs of commodities in the local market, and help Egypt move up the World Bank’s cross-border trade index, Maait added in a statement on Wednesday.
A total of 75 companies that have been whitelisted will enjoy the “green channel” customs clearance system.
These companies include Halwani Bros, Oriental Weavers Carpet, Arabian Food Industries Co (Domty), Samsung Electronics Egypt, Pfizer Egypt, Nissan Motor Egypt, Schneider Electric Egypt, Egyptian Natural Gas Company (GASCO), and Arabian Cement.
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