Kouchouk affirmed that the government is working to position Egypt as a regional hub for transport, logistics and transit trade.

Ahmed Kouchouk, Minister of Finance, Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, and Dr. Mohamed Farid, Minister of Investment and Foreign Trade, witnessed the signing of the TIR Guarantee Agreement between the Egyptian Customs Authority and the Federation of Egyptian Chambers of Commerce under the framework of the United Nations TIR Convention on the international transport of goods by road.

 

He described the agreement as a new step toward deepening partnership with both domestic and foreign private sector stakeholders in a manner that enhances the competitiveness of the Egyptian economy.

 

He noted that the government's tax and customs facilitation packages are supporting trade facilitation and stimulating investment, while efforts continue to reduce customs clearance time and costs through further simplification of procedures.

 

The Minister added that the Ministry of Finance is developing a more advanced risk management system to accelerate customs clearance, noting that transit trade has grown by 40% since last March, reinforcing Egypt's position as an attractive regional logistics hub.

 

Kouchouk also pointed out that, under the second package of tax facilitations, goods in transit and the services provided thereto are exempt from Value Added Tax (VAT) to encourage transit trade. He described the Federation of Egyptian Chambers of Commerce as a key and long-standing partner in advancing tax and customs reforms and facilitating trade.

 

He also directed the establishment of an executive unit within the Egyptian Customs Authority to ensure the effective implementation of the TIR system.

 

Ahmed Amawi, Head of the Egyptian Customs Authority, said that signing the executive agreement with the Federation of Egyptian Chambers of Commerce, in its capacity as the national guaranteeing association representing the International Road Transport Union (IRU), will enable Egypt to fully capitalize on the benefits of faster cargo movement, lower transport costs, shorter truck dwell times at border crossings, improved customs and logistics services, enhanced competitiveness of Egyptian ports, border crossings and transport companies, expanded trade and investment opportunities, easier access for Egyptian exports to Arab, European and African markets on more competitive terms, and stronger transit trade.

 

He added that the Egyptian Customs Authority continues to implement the Ministry of Finance's strategy to modernize the customs system through legislative reforms, broader implementation of international agreements, simplified procedures and expanded digital transformation, in a manner that balances trade facilitation, community protection and safeguarding public revenues.

 

Amawi explained that the TIR Convention is a global customs treaty established under the auspices of the United Nations, allowing goods to move across international borders without customs inspections in transit countries.

 

The system is administered by the International Road Transport Union (IRU) and remains the world's only universal customs transit system for international road transport.

 

Ahmed El Wakil, Chairman of the Federation of Egyptian Chambers of Commerce, said that the implementation of the agreement will provide Egyptian transport companies with greater access to regional and international markets, enhance their competitiveness, stimulate transit trade through Egypt, attract further investments in transport, logistics services and logistics zones, support exports, and reinforce Egypt's position as a regional trade and logistics hub.

 

He added that the Federation seeks to enhance the efficiency of supply chains by contributing to smoother international trade flows and reducing the time and cost of cargo transit.