Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt, Belarus Sign Customs Agreement to Enhance Joint Trade

Wed 01 May 2024 | 03:28 AM
Taarek Refaat

The head of the Egyptian Customs Authority (ECA), El Shahat Ghatouri signed with Minister of Antimonopoly Regulation and Trade of Belarus Alexei Bogdanov an agreement to strengthen the Common Trade System (MTPS), according to the authority’s statement.

The agreement stipulated the implementation of a pilot project to exchange information about the movement of goods and vehicles between the two countries for a period of 12 months.

The agreement also stipulated that strengthening the joint trade system between the two parties aims to exchange information about shipments of trade operators benefiting from the system, while being guided by the rules, standards and recommendations of the United Nations, the World Customs Organization, and the national legislation of the two countries.

On the sidelines of the signing, El-Ghatouri pointed out that participants in economic activities subject to the joint trade promotion system will enjoy a number of advantages, such as: priority for performing (customs clearance) in accordance with the national legislation of both parties, and facilitation of customs procedures, including allocating separate lanes for vehicles, which leads to reducing time.