Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, said that more than 15,000 companies have registered to join the advance cargo information (ACI) system.
This reflects the business community's interest in joining the system which will help reduce the time of customs clearance and cut the costs of imports and exports, Maait added in a statement on Wednesday.
The ACI system will help identify high-risk cargo prior to their arrival so that goods will be stored in the customs warehouses for a limited period of time which will help facilitate the trade movement and encourage the entry of new investments.
A total of 2,200 companies have recorded about 18,000 customs transactions under the trial operation of the ACI system, which was launched in April.
The mandatory implementation of the ACI system at maritime ports has been extended to the beginning of October.
