Egyptian Ports Release Goods worth $1.5 Billion in 10 Days

PM Mostafa Madbouly reviewed a detailed report on the latest developments regarding the situation of goods released at Egyptian ports.

Nader Saad, the spokesperson for the cabinet stated that the report presented to the Prime Minister noted that the goods released for various import purposes during the period from January 1-10 amounted to more than $1.5 billion, through various systems, whether ACI, or outside of it.

The report detailed the total goods released during this period, indicating that the value of the goods released for industrial purposes amounted to more than $613 million, including food commodities, primary or manufactured industrial supplies, and other spare parts and parts needed for this important sector.

The report also noted that, according to the ACI pre-registration system, the goods released during the period from January 1-10, include corn with an amount of more than $40.7 million, and soybeans with an amount of $28 million, during the period, while chemicals related to pharma also recorded $56 million.

At the end of his review of the report, the Prime Minister indicated the continuation of coordination between the various concerned authorities, regarding expediting customs release procedures for various goods and merchandise in Egyptian ports in an effort to provide various commodities in the local markets. 

In December, goods were released worth about $7 billion, bringing the total value of what has been released since the beginning of December until now to about $8.5 billion.