Cairo: Minister of Finance, Ahmed Kouchouk, announced new exceptional customs measures aimed at facilitating trade movement across the country’s borders and easing procedures for investors. Minister Kouchouk said the measures include offering alternatives to cash guarantees, helping reduce financial burdens, and simplifying customs processes.

According to State Information Service Egypt, the measures introduced by Minister Kouchouk involve accepting paper insurance policies as guarantees for transporting foreign goods under the transit system. This move is part of broader efforts to expand transit trade and position Egypt as a global logistics hub. The adoption of paper insurance policies is expected to enhance the efficiency of customs procedures and provide more flexibility to investors and traders.

Ahmed Amawi, Head of the Customs Authority, elaborated that the insurance policy will cover customs duties, value-added tax, and the value of banned goods. This policy framework aims to secure the state’s financial interests while facilitating smoother trade operations. He emphasized that any amendments or cancellations to the policy require written approval from both the Customs and Tax Authorities, ensuring a robust oversight mechanism.