Cairo: Minister of Finance Ahmed Kouchouk and Minister of Investment and Foreign Trade Hassan El-Khatib witnessed the signing of a cooperation protocol between the Head of the Egyptian Customs Authority, Ahmed Amawi, and the Head of the Egyptian Commercial Service (ECS), Abdelaziz El Sherif. This initiative aims to enhance the competitiveness of the Egyptian economy.

According to State Information Service Egypt, Kouchouk and El-Khatib emphasized the importance of strengthening bilateral coordination to facilitate trade flows and reduce customs clearance times. They highlighted the role of the Egyptian Commercial Service in improving the efficiency of the joint risk management system and expediting customs procedures.

The ministers announced that the upcoming period will involve increased collaboration between the Customs Authority and the Egyptian Commercial Service in the automated valuation of goods, involving direct engagement with overseas producers and suppliers. They also mentioned ongoing efforts to streamline procedures for verifying the accuracy of commercial data and documents related to Egyptian imports.

Amawi stated that the protocol is part of efforts to develop the customs operating system, noting that cooperation with the Egyptian Commercial Service is crucial in supporting pre- and post-clearance verification mechanisms for commercial documents and data, ensuring accuracy while expediting and facilitating procedures.

El Sherif remarked that the protocol reinforces existing cooperation, noting that commercial service offices abroad play a pivotal role in aiding requests from the Customs Authority to verify certificates of origin and commercial invoices, thereby enhancing the efficiency of Egypt's foreign trade system.