Egypt prioritises streamlined customs for economic growth
Egypt’s government is actively working to significantly reduce customs clearance times and costs, a move aimed at alleviating production burdens and stimulating investment and exports.
This commitment was reaffirmed by Minister of Finance Ahmed Kouchouk during a tour of the Dekheila and Alexandria ports on Friday.
Minister Kouchouk emphasised the collaborative efforts between his ministry and other ministries and authorities to simplify procedures for investors, effectively dismantling administrative hurdles.
The government is pushing forward with the simplification and automation of customs processes, integrating them within a comprehensive framework that includes “supplying entities.”
“We are working to accelerate the pace of joint work to complete the electronic linkage system between customs and supply entities,”Kouchouk said. He further explained that joint inspection committees will play a more prominent role, ensuring better governance, expediting clearance, and reducing overall costs for businesses.
This package of customs facilitation measures is envisioned as a crucial step towards building trust, fostering partnerships, and providing robust support for the business community.
Kouchouk reiterated the government’s dedication to finding practical and flexible solutions to any customs challenges, with the overarching goal of boosting foreign trade. This, he noted, will contribute to integrated and stimulating customs services, ultimately creating a competitive business environment that enhances economic growth.
The minister has stressed a strong focus on improving the efficiency of human resources within the customs sector to elevate service levels and meet the expectations of the business community.
Minister Kouchouk underscored the Egyptian Tax Authority’s dedication to the business community, stressing an “integrated vision to empower the private sector.” This commitment aims to foster a more favourable environment for economic expansion and investment.
Rising exports
Egypt’s non-oil exports rose 33 per cent to reach $32 billion between July 2024 and March 2025, as reported by the Ministry of Finance. This growth signals a positive trajectory for the nation’s trade balance.
Despite the strong export performance, Egypt’s balance of payments (BoP) registered a deficit of $502.6 million in the first half of fiscal year 2024/25. This compares to a deficit of $409.6 million in the same period last year, according to Central Bank of Egypt (CBE) data.
Further analysis reveals non-oil merchandise exports increased by 18.8% to $15.7 billion in H1 FY 2024/25. Concurrently, non-oil merchandise imports also saw a notable rise, up 26.9 per cent to $36.6 billion in the same period. The current account deficit reached $11.1 billion in H1 FY 2024/25, according to the CBE.
