{"id":557007,"date":"2021-09-02T04:02:46","date_gmt":"2021-09-02T04:02:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/mas-pesos\/"},"modified":"2021-09-02T04:02:46","modified_gmt":"2021-09-02T04:02:46","slug":"mas-pesos","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/mas-pesos\/","title":{"rendered":"M\u00e1s pesos"},"content":{"rendered":"

<\/a> Egyptian exports heading to South America will as of today be charged lower <\/strong><\/sup>customs rates <\/strong>under a trade agreement signed in 2010, according to a ministry statement<\/a>. Customs paid on some 6.9k goods heading to countries in the Mercosur trading bloc will be reduced by 10-12.5%<\/sup> in a move that will benefit exporters and make Egyptian products more competitive in Latin America.<\/p>\n

This is an annual event:<\/strong> Under the agreement (pdf)<\/a>, both sides are working to gradually eliminate customs imposed on 90% of the goods by 2026. Customs are being phased out over varying timelines<\/sup>, with some goods seeing 12.5% reductions each year and becoming exempt by 2023 and others being cut by 10% a year, reaching 0% by 2026. Duties on other goods were made exempt when the agreement came into force in 2017 while for others the charges were fully phased out by 2020.<\/p>\n

The latest reductions mean that customs have been slashed by 50-62.5%<\/strong> since the agreement came into force in 2017.<\/p>\n

Annual trade between Egypt and Mercosur countries has more than doubled<\/strong> since the agreement came into effect in 201, notching USD 396 mn last year compared to USD 184 mn three years earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian exports heading to South America will as of today be charged lower customs rates under a trade agreement signed in 2010, according to a ministry statement. Customs paid on some 6.9k goods heading to countries in the Mercosur trading bloc will be reduced by 10-12.5% in a move that will benefit exporters and make […]<\/p>\n","protected":false},"author":1,"featured_media":557008,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8516],"tags":[309,72,2874,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-customs","tag-enterpriseam","tag-south-america","tag-trade","wpautop","entry"],"acf":{"mongo_id":"7080cec2-9869-4b7c-9835-cba6d8d0d1e0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/31.jpg","photo_position":"above","related_issue":[556993],"teaser":"","voice_url":""},"yoast_head":"\nM\u00e1s pesos - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/mas-pesos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\u00e1s pesos\" \/>\n<meta property=\"og:description\" content=\"Egyptian exports heading to South America will as of today be charged lower customs rates under a trade agreement signed in 2010, according to a ministry statement. 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