Latest news with #SherifEl-Kilany
Egypt Today
19-05-2025
- Business
- Egypt Today
Egypt Speeds Up Customs Clearance, Releases $27.2 Billion in Goods by Mid-May
Egypt's Customs Authority has cleared approximately $27.2 billion worth of goods from the start of 2025 through mid-May, reflecting the government's intensified efforts to streamline trade and support economic activity. The announcement was made by Sherif El-Kilany, Deputy Minister of Finance for Tax Policies, during a high-level meeting led by Prime Minister Mostafa Madbouly. The meeting, attended by Kamel El-Wazir (Deputy Prime Minister for Industrial Development and Minister of Industry and Transport) and Ahmed Kouchouk (Minister of Finance), focused on evaluating progress in customs reform—particularly the implementation of the Advance Cargo Information (ACI) system. El-Kilany noted that the cleared goods included $11 billion worth of production inputs and raw materials, along with $6.8 billion worth of strategic commodities. He further stated that from January 2024 to mid-May 2025, the total value of released goods, including petroleum products, reached $105.3 billion. Of this, $43.5 billion represented production supplies, while $26.4 billion covered strategic goods. Minister El-Wazir highlighted the significance of accelerating customs procedures, especially for production inputs essential to Egypt's manufacturing sectors. He emphasized that the reforms not only reduce clearance times but also contribute to improving productivity across industries. He also reiterated the ministry's commitment to collaborating with all relevant stakeholders to advance and expand the ACI system, forming a cornerstone of Egypt's broader efforts to modernize its customs infrastructure.
Daily News Egypt
28-01-2025
- Business
- Daily News Egypt
Finance Minister launches first phase of customs facilitation measures
Ahmed Kouchouk, Egypt's Minister of Finance, has revealed that the government is set to launch the first phase of its customs facilitation measures as part of broader efforts to enhance the efficiency of the country's customs system. This initiative aligns with Egypt's financial policies aimed at stimulating economic growth and improving the global competitiveness of its economy. During the celebration of International Customs Day, delivered by Sherif El-Kilany, Deputy Minister for Tax Policies and Supervisor of the Customs Authority, Kouchouk outlined the government's ongoing work with both local and international partners to localize global best practices. These efforts are focused on reducing customs clearance times and cutting production and export costs, key objectives to foster an environment conducive to investment and trade. Sherif El-Kilany The Ministry of Finance is leveraging international expertise to analyze and address challenges related to customs clearance for imports and exports. This includes efforts to improve governance within customs administration, ensuring smoother operations that encourage both local and foreign businesses to expand their industrial and export activities in Egypt. Kouchouk emphasized that modernizing Egypt's customs system is a critical component of the country's broader efforts to enhance the competitiveness of Egyptian goods and services on the global stage, ultimately contributing to a more favorable trade balance. In addition, the government is integrating the tax and customs systems to simplify procedures for businesses. A key element of this modernization is the electronic linkage of all ports through a single-window system, which aims to streamline customs processes and facilitate faster clearance. Kouchouk also reiterated the Ministry's commitment to an open dialogue with the private sector, listening to their challenges and developing practical, simplified solutions. Ian Saunders, Secretary General of the World Customs Organization, also delivered a recorded message emphasizing the importance of customs reform. He highlighted the global customs goals of efficiency, security, and prosperity, underscoring the role of digital services, enhanced data analytics, and innovation in achieving these objectives. Saunders expressed the organization's support for initiatives that foster sustainable economic growth through trade facilitation.
