Value of Goods at Egyptian ports reach $3.9B

The value of Goods at Egyptian ports reaches $3.9B Mon, Mar. 13, 2023
CAIRO - 12 March 2023: Egypt's Cabinet estimated the value of goods currently in Egyptian ports at about $3.9 billion, according to the cabinet spokesman, Ambassador Nader Saad.

Saad noted that those goods are waiting for customs releases to go out to the market.

He indicated in a statement, Sunday, that the Prime Minister, Mostafa Madbouli, held a meeting to follow up on the status of applying the “ACI” precharge system.

The meeting reviewed the values of goods released under the final import system during the period from February 1 to February 28, 2023, which amounted to $5.8 billion, according to Saad.

The value of goods released under the final import system during the period from March 1 to March 10 amounted to $2 billion.

The Prime Minister pointed out that today's meeting comes within the framework of the periodic meetings that are held to follow up the position of the pre-shipment system, and to ensure the implementation of various steps that would contribute to providing more facilities for the procedures for releasing goods and commodities present in Egyptian ports.

During the meeting, the position of goods present at the country’s ports from October 2021 to March 2023 was reviewed, as well as an analysis of the values of goods registered on the “ACI” pre-shipment system.

The meeting also touched on the executive position for the exit of goods at seaports during the month of February 2023, the average time for the approval of the presented certificates, and what has already been approved of those certificates, whether by the regular import system, or through the prior release system.