Head of the customs authority Galal Abul Fetouh announced that the customs amendments which have taken place a few years ago has been put in place in coordination with business organizations to encour...

Head of the customs authority Galal Abul Fetouh announced that the customs amendments which have taken place a few years ago has been put in place in coordination with business organizations to encourage local industries and limit production costs.  Mr. Abul Fetouh noted the reduction in customs on products to 30% on full manufactured products to protect the industry. He noted that 90% of Egypt’s imports bear a customs rate of 0% to 10% and that 95% of people around the world are committed to paying  the tariff on customs as a result to Egypt’s commitment to regulations stipulated by WTO and which include the obligation to amend customs fees every three years.  The announcements were made during a meeting with the commercial chamber and car parts division as well as a number of related parties. The head of customs issued a number of immediate directives to iron out some of the issues irking some of the businessmen attending.  48 hours will be issued as grace period to traders to present bills and documents that describe the country of origin of the products  sold under a fidelity account and in which period the authority will avoid dealing with the trader as a customs evader. (source: Al-Akhbar)