Egypt announced launching a new trade facilitation technology to improve processing time and costs for all exporters to the country.
Egyptian Minister of Finance Mohamed Maait said that the Advance Cargo Information (ACI) system was a significant step in realizing the plan of the government to transform its trade infrastructure.
“This new technology will make it much easier for companies all over the world to trade with Egypt, helping to deliver the Government’s plan to create the most advanced logistics hub in the region,” Maait added.
The ACI system, a blockchain-based technology, would fully automate the customs process for all goods entering Egypt, like identification, checking, and clearing of goods before they are shipped and before they reach the Egyptian ports.
The ACI system pilot was tested in April 2019 and scheduled to begin full operation on October 1, 2021.
According to the release from the government, 16,000 companies importing goods into Egypt have registered on the new ACI system.
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