{"id":645944,"date":"2017-06-01T03:55:06","date_gmt":"2017-06-01T03:55:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/"},"modified":"2017-06-01T03:55:06","modified_gmt":"2017-06-01T03:55:06","slug":"trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/","title":{"rendered":"Trade and Industry Ministry issues amendments to import-export executive regulations"},"content":{"rendered":"<p><strong>Trade and Industry Minister Tarek Kabil issued amendments to import and export <\/strong><strong>regulations<\/strong> on Wednesday meant to slash red tape, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1142186\">AMAY<\/a>reports. The new regulations \u2014 which go into effect today \u2014 make it mandatory to process payments for imported goods worth USD 2k or more through the domestic banking system. The changes also make it mandatory for banks to notify the Customs Authority electronically of proof of payment before ports can allow importers to transport their goods. Among the other stipulations:<\/p>\n<ul type=\"disc\">\n<li><strong>Importers must be registered in the Importers Registry and be licensed<\/strong> to purchase their respective goods;<\/li>\n<li><strong>Manufacturers importing production inputs and raw materials will not be required to register. <\/strong>The Industrial Development Authority will, however, be required to document raw material imports and file reports with the Customs Authority, which will in turn pass that information on to the government; <\/li>\n<li>Banks will also have to <strong>process importers\u2019 customs administration fees and transfer those directly <\/strong>to the Trade Ministry\u2019s main account at the CBE.<\/li>\n<\/ul>\n<p><strong>Government agencies have three months to transition<\/strong> to the new regulations, while businesses were given <strong>six months<\/strong>, <a href=\"http:\/\/www.elborsanews.com\/2017\/05\/31\/1028655\">according to Al Borsa<\/a>.<\/p>\n<p><strong>In other news from the ministry<\/strong>,<strong> the new Industrial Permits Act is now in full effect<\/strong>, the ministry said on Wednesday, <a href=\"http:\/\/www.shorouknews.com\/news\/view.aspx?cdate=31052017&id=d6a3ad72-9f61-4ff5-81fd-f0061f44f9c3\">according to Al Shorouk<\/a>. The act is meant to expedite industrial licensing and was published in the Official Gazette <a href=\"https:\/\/enterprise.press\/stories\/2017\/05\/09\/what-were-tracking-this-week-111\/\">earlier this month<\/a> after passing through the House of Representatives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trade and Industry Minister Tarek Kabil issued amendments to import and export regulations on Wednesday meant to slash red tape, AMAYreports. The new regulations \u2014 which go into effect today \u2014 make it mandatory to process payments for imported goods worth USD 2k or more through the domestic banking system. The changes also make it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645944","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ba18a4b8-bbaa-42ef-85ae-092cb6f0cebf","order":"0","is_powered_by":true,"section_story_id":"ae22ecad-2d45-4988-9d6d-d8a210325d8e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645935],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Trade and Industry Ministry issues amendments to import-export executive regulations - 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\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade and Industry Ministry issues amendments to import-export executive regulations\" \/>\n<meta property=\"og:description\" content=\"Trade and Industry Minister Tarek Kabil issued amendments to import and export regulations on Wednesday meant to slash red tape, AMAYreports. The new regulations \u2014 which go into effect today \u2014 make it mandatory to process payments for imported goods worth USD 2k or more through the domestic banking system. The changes also make it [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-01T03:55:06+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Trade and Industry Ministry issues amendments to import-export executive regulations\",\"datePublished\":\"2017-06-01T03:55:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\"},\"wordCount\":244,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/06\/01\/trade-and-industry-ministry-issues-amendments-to-import-export-executive-regulations\/\",\"name\":\"Trade and Industry Ministry issues amendments to import-export executive regulations - 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The amendments \u2014 which complement changes to the Importers Registry Act that were issued in March \u2014 raise the minimum\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637139,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/08\/trade-ministry-to-grant-temporary-licenses-for-importers-who-dont-yet-comply-with-import-registry-act\/","url_meta":{"origin":645944,"position":1},"title":"Trade Ministry to grant temporary licenses for importers who don\u2019t yet comply with Import Registry Act","author":"enterpriseam admin","date":"8 November 2017","format":false,"excerpt":"The General Authority for Export and Import Control will grant temporary licenses to importers who are currently unable to meet the December deadline to comply with amendments to the Importers Registry Act, the authority\u2019s head Ismail Gaber said, according to Al Mal. The Trade and Industry Ministry had extended to\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632576,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/14\/amendments-to-the-customs-act-will-expand-exemptions-for-production-inputs\/","url_meta":{"origin":645944,"position":2},"title":"Amendments to the Customs Act will expand exemptions for production inputs","author":"enterpriseam admin","date":"14 February 2018","format":false,"excerpt":"LEGISLATION WATCH- Amendments to the Customs Act will expand exemptions for production inputs. The Finance Ministry announced changes to the Customs Act designed to expand exemptions and tighten loopholes for tax dodgers. The amendments will expand temporary exemptions for productions inputs throughout the value chain and, for the first time,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642970,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/27\/trade-ministry-extends-grace-period-to-comply-with-importers-registry-act\/","url_meta":{"origin":645944,"position":3},"title":"Trade Ministry extends grace period to comply with Importers Registry Act","author":"enterpriseam admin","date":"27 August 2017","format":false,"excerpt":"The Trade and Industry Ministry plans to extend the grace period to comply with amendments to the Importers Registry Act to December from September, minister Tarek Kabil announced on Thursday, according to Al Borsa. The move follows requests by importers that the September deadline was too short notice to comply\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":636232,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/27\/capital-markets-act-amendments-to-move-to-plenary-session-soon-nasr\/","url_meta":{"origin":645944,"position":4},"title":"Capital Markets Act amendments to move to plenary session soon -Nasr","author":"enterpriseam admin","date":"27 December 2017","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives\u2019 Economics Committee is expected to finalize its review of the amended Capital Markets Act \u201csoon\u201d and pass it along for a plenary session vote, Investment and International Cooperation Minister Sahar Nasr said yesterday, according to Al Mal. The amended act is expected to bring\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629308,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/preferential-white-list-new-tariffs-on-tourism-new-penalties-and-more-in-customs-act\/","url_meta":{"origin":645944,"position":5},"title":"Preferential \u201cwhite list,\u201d new tariffs on tourism, new penalties and more in Customs Act","author":"enterpriseam admin","date":"28 May 2018","format":false,"excerpt":"EXCLUSIVE- Preferential \u201cwhite list,\u201d clampdown on tour agency car rentals, new penalties and more in Customs Act: The latest draft of the Customs Act will include a host of measures that facilitate the flow of goods through Egypt\u2019s ports while also introducing new tariffs for the tourism sector and penalties\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=645944"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645944\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/645935"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=645944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=645944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=645944"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=645944"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=645944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}