Why Egypt?

Importers are always looking for value added to achieve more commercial profits. A large part of this value is to reduce import costs. Some of these costs are shipping to the importer looking for the country with the best location and the lowest shipping cost and is also looking for customs exemption to reduce costs as well as looking for the state Of good reputation In this article we show you why it is preferable to import from Egypt
Why Egypt

Table of Contents

Importers are always looking for value added to achieve more commercial profits. A large part of this value is to reduce import costs. Some of these costs are shipping to the importer looking for the country with the best location and the lowest shipping cost and is also looking for customs exemption to reduce costs as well as looking for the state Of good reputation In this article we show you why it is preferable to import from Egypt

Geographical location

The Arab Republic of Egypt is located in the northeastern part of the continent of Africa, with an Asian stretch across the Sinai Peninsula from the southwestern side, so it is an important country, given its strategic location, linking the two continents of Asia and Africa, and supervises distinct water borders, including: the sea The Mediterranean and the Red Sea.

In addition, are bordered by many African and Asian countries, such as: the Gaza Strip, Sudan, and Libya, which makes them enjoy an excellent location that contributes a large share in the international trade movement, and it is worth noting that Egypt has an area of ​​about 390 , 120.66 sq mi.

Customs benefits

Egypt enjoys its membership in many trade agreements with most of the countries of the world, which gives it customs advantages and exemptions in import and export and freedom of movement of goods not for other countries of the world.

The following are the most important agreements that Egypt enjoys

a)- Agadir Agreement

The Agadir Agreement was signed between Egypt, Morocco, Tunisia and Jordan on 2/22/2004 and the agreement will enter into force once the members exchange the ratification documents, as it has been ratified by Egypt, Tunisia and Jordan and is currently being ratified by the Moroccan authorities

Exempt goods are in accordance with the agreement

  The agreement stipulated that all goods exchanged between member states would be exempted from customs tax once the agreement entered into force.

b)- COMESA Agreement

It is the Common Market Agreement for Eastern and Southern African countries, and includes 19 African countries. These countries are: Egypt, Kenya, Sudan, Libya, Zambia, Malawi, Zimbabwe, Ethiopia, Djibouti, Madagascar, Uganda, Eritrea, Democratic Republic of the Congo, Burundi, Rwanda, Seychelles, Comoros, Swaziland and Mauritius.

Egypt signed the joining of the COMESA Common Market Agreement in 1998, and customs exemptions were started on imports from other member states as of 1999 on the basis of the principle of reciprocity for goods that accompany the certificate of origin approved by the concerned authorities in each country.

Exempt goods are in accordance with the agreement

All Egyptian goods exported to member countries enjoy full exemption from all customs duties, fees and other taxes of similar effect according to the percentages of discounts approved by each country and on the basis of the principle of reciprocity.

Egypt, Kenya, Sudan, Mauritius, Zambia, Zimbabwe, Djibouti, Malawi, Madagascar, Rwanda and Burundi provide each other with goods and products of COMESA origin completely exempt from customs duties and other fees and taxes of similar effect.

Uganda, Eritrea and Comoros: apply 80% reduction to its imports from COMESA countries

Ethiopia: It applies a 10% customs reduction on customs duties on its imports from COMESA countries.

c)- Arab Free Trade area

Member States

 The number of Arab countries that have joined so far reached 17 Arab countries, namely:

Jordan, UAE, Bahrain, Tunisia, Saudi Arabia, Syria, Iraq, Oman Authority, Qatar, Kuwait, Lebanon, Libya, Egypt, Morocco, Sudan, Palestine, Yemen.

Exempt goods

All Arab goods exchanged between the countries parties are released according to the principle of progressive liberalization that applies starting from the date of 1/1/1998 provided that the complete liberalization of all Arab goods is completed with the end of the period specified for the establishment of the Arab Free Trade Area on 1/1/2005 and can be agreed by the countries During implementation of the program, the parties put any commodities under immediate release.

There are many other trade agreements such as the Egyptian-European partnership and trade agreements between Egypt and Turkey .. All of these agreements give the member states the benefits of customs exemption upon importing from Egypt.

Economic growth

Egypt achieved rapid growth rates after implementing the economic reform plan in cooperation with the International Monetary Fund, as it achieved a growth rate to 5.6% during the year 2019 and Egypt ranked 11th globally in the economic growth rate for the same year.

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