Egypt’s 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.
He added that paper insurance policies will now be accepted as guarantees for transporting foreign goods under the transit system, as part of efforts to expand transit trade and position Egypt as a global logistics hub.
Ahmed Amawi, Head of the Customs Authority, said the insurance policy covers customs duties, value-added tax, and the value of banned goods.
He noted that the policy cannot be canceled or amended without written approval from both the Customs and Tax Authorities.
