CAIRO: Ashraf Mokhtar, head of central administration for trade agreements at the Ministry of Trade, Industry and Investment said Monday that “the agreement to facilitate trade” that has been signed during the ministerial conference of the World Trade Organization (WTO) in Indonesia would increase Egyptian imports.
The new agreement will set technical standards for customs along with the different supervisory authorities’ work to finish import measures, said Mokhtar during a meeting of the Export Council for Building Materials.
Such measures will include one system for electronic payment of custom fees, he said.
The Egyptian committee for facilitating trade is currently editing 13 articles of trade regulations to be submitted to WTO members.
The edited articles will regulate the aspects of information spread, prejudges, counter-discrimination measures, import and export fees and expenses, availability of transit and institutional arrangements, Mokhtar said.
Hanan Ismail, executive manager of the export council, said that the signed agreement is considered the first multilateral agreement after the General Agreement on Tariffs and Trades in 1994, to boost international trade.
Walid Gamal, head of the export council, said the new agreement would raise customs efficiency and increase Egypt’s share of international trade.
Originally published in Youm7.