Trade Minister amends law No.118/1975 on import, export

Minister of Trade and Industry Ahmed Samir issued a decision to amend some provisions of the regulations of Law No. 118/1975 regarding import and export and the system of procedures for examination and control of imported and exported goods. The decree came in the framework of President Abdel Fattah Al-Sisi’s directives to facilitate the procedures of import and export operations and to facilitate the movement of foreign trade.

The decree added a new article to the regulations issued by Ministerial Resolution No. 770/2005, according to which the General Organization for Import and Export Control (GOEIC) sets up a system for risk management in the inspection and testing of imported non-food industrial commodities so that these operations are carried out selectively based on controls for analysing risk factors.

Samir said that this decision comes within the framework of the ministry’s keenness to improve the system of services provided to exporters and importers through commitment to implementing the latest systems and rules internationally followed in procedures for examination. In addition to, release of exported and imported shipments, which contributes to facilitating the movement of trade between Egypt and countries.

The Minister issued another decree regarding the formation of a committee to set standards and controls for the integrated risk management system to examine non-food industrial commodities, headed by the GOEIC’s chairperson.