Mohamed Maait, the Minister of Finance, said that the Customs Authority has released imported goods, merchandise, and products at various ports and custom outlets worth $131bn in 21 months, until the end of last June, out of a total of $136.4bn worth of goods. Goods worth $3.5bn that have not been yet exported as they do not have delivery permits from the foreign source to the Egyptian importer.
Egypt’s ports and custom outlets also have “bulk goods” that are stored in warehouses inside custom areas, including petroleum products, oils, fodder, corn, soybeans, and wheat. This leaves a total of goods worth $1.9bn awaiting custom release procedures to be completed.
In a statement by the Ministry of Finance on Wednesday, Maait said that customs release operations are carried out as usual, with basic and food commodities, food processing components, medicines, petroleum materials and fuel, and everything related to production requirements considered a top priority. The release of such goods contributes to securing the state’s strategic stock of basic commodities for citizens in the local markets. They also help support the state’s efforts to maintain price stability.
