Good afternoon, friends, and congratulations on making it to the weekend. Wrapping it up is news that Egypt is going paperless on exports starting April. Also in today’s issue: Trump backs off his NATO tariff threats, and we discuss empathy, tough talks, and leading creatives with Peace Cake’s Kareem Abou Gamrah.

THE BIG STORY TODAY-

📍 Bye bye, paper: The Madbouly government will launch a fully automated export system via the Nafeza platform on 1 April, utilizing a Unique Consignment Reference (UCR) to slash customs clearance times from eight days to just 48 hours, two senior government sources told EnterpriseAM.

The new system will integrate 32 government agencies and 445 shipping lines to eliminate the manual bureaucracy that has historically caused “delays and manipulation,” according to our sources.

This digital overhaul is the cornerstone of Egypt’s plan to reach USD 145 bn in annual exports by 2030. Beyond logistics, the automation is expected to resolve the chronic liquidity crunch facing exporters, who currently wait up to six months for paper-based approvals to claim incentives.

The good news: With no additional fees beyond standard Nafeza charges, the government believes that the “time incentive” alone will be enough to enhance the global competitiveness of Egyptian products abroad.

THE BIG STORY ABROAD-

🌐 US President Donald Trump is backing down on his tariff threats against eight NATO members and no longer plans on using force to take over Greenland, after announcing he had reached a framework agreement with NATO Secretary General Mark Rutte. “This solution, if consummated, will be a great one for the [US], and all NATO nations,” Trump said. European stocks and global markets advanced in response to the news.

^^Read more on: The New York Times and CNBC.

Meanwhile, in Davos: Trump’s Board of Peace signing ceremony took place today, with fewer than 20 countries in attendance. Several Western allies are hesitating to join, alarmed by the possibility that the board could replace the United Nations.

Who’s in: The UAE, Saudi Arabia, Egypt, Qatar, Bahrain, Pakistan, Turkey, Hungary, Morocco, Kosovo, Argentina, and Paraguay have accepted Trump’s invitation, as have Central Asian states Kazakhstan and Uzbekistan, as well as Southeast Asian nations Indonesia and Vietnam. Israel’s Benjamin Netanyahu is also on board, despite fuming at the inclusion of Turkish and Qatari officials on the Gaza executive board — and despite facing an arrest warrant from the ICC.

Who’s out: France and Norway have declined, citing questions about how the board would operate alongside the UN. Ukrainian President Volodymyr Zelensky said it was difficult to see being “together with Russia in any council.”

Who’s undecided: China confirmed it was invited but has not said whether it will join. A Foreign Ministry spokesperson said Wednesday that China “will stay firmly committed to safeguarding the international system with the UN at its core.” Italian PM Giorgia Meloni said there could be constitutional issues with joining and she would not attend the signing ceremony. Irish Foreign Minister Helen McEntee said she would give the invitation “careful consideration.”

^^Read more on: CNN.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Gerd took center stage during a meeting between US President Donald Trump and President Abdel Fattah El Sisi on the sidelines of Davos yesterday. As expected, the meeting touched on Trump’s proposal to mediate the Egypt-Ethiopiadispute over the dam, with Trump saying that it “has become a very dangerous issue … I’ll see if I can get that back on track.”
  • The Finance Ministry is reviewing the VAT Law with a view to scrap exemptions on some goods and services, a senior government source tells EnterpriseAM. The move is designed to bolster tax revenues while allowing for income tax brackets adjustments to support low-income earners, the source added;
  • The Transport Ministry is preparing to take the USD 380 mn Semla-Salloum Railway to a global tender. The move signals that the state is moving to lock in the logistics required to support Qatari Diar’s USD 29.7 bn Alam El Roum project.

⛅ TOMORROW’S WEATHER- We’re in for a cool and partly cloudy start to the weekend, with temperatures in Cairo reaching a high of 22°C and a low of 14°C, according to our favorite weather app.

Tags: