Import and export activities contribute significantly to the development of international trade worldwide, as they encourage a process of commercial circulation between importing and exporting countries, with the former receiving items it lacks in resources, in exchange for the latter exporting products that it is rich in. The overall purpose of each country is to improve their respective economies and provide a wider range of products for their population, at fair prices.
One of the many byproducts of the post-pandemic global economy
has been severe delays in this vital activity, leading to an
accumulation of goods at ports worldwide that cannot enter their
respective countries for trading.
Resolution No. 43 of 2016 governing the registration of factories
eligible to export their products to Egypt, was often viewed as a
hindrance to importers since it necessitated, a decision issued by
the Minister of Foreign Trade, to add or remove traders from the
relevant register. This in turn caused substantial delays in
procedures (such as registration and licensing), and the
registration of only a small percentage of exporters, who would
then monopolize their sectors, and charge the end customer a higher
price for their goods.
To resolve the above, Resolution No. 195 of 2022 was recently issued amending the aforementioned decision, and removing the need to obtain approval from the Minister of Foreign Trade. Additionally, this decision specifies a clear time frame for registration on the importer's register, which in turn has resulted in a fairer market, and a reduction in the price of goods by 10 % -15 %.
The new time frame proposed by the resolution for registration
in the Exporters' Register is a maximum of 15 days from
submission of all the relevant documents and verification of their
authenticity by the competent authority.
Other notable developments include the possibility to submit the
registration documents through the embassies and consulates
affiliated with the exporting countries, and the capability to
renew the valid documents within a maximum period of 30 days from
the date of their expiry.
Moreover, the Resolution has established a mechanism for complaints
regarding delays or removal from the register, provided that the
grievance is decided within a maximum period of 15 days from the
date of its submission, and the complainant shall be notified of
the reasons for rejection or removal, and the corrective measures
that must be taken on his part to re-register.
To conclude this article aims to highlight the remarkable efforts made by the state to facilitate procedures for the business community, increase the flow of imports and exports, and tackle monopolistic practices, all with the purpose of obtaining higher quality products at better prices for the end customer.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.