{"id":75057,"date":"2023-11-22T00:00:00","date_gmt":"2023-11-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/22\/alexandria-chamber-of-commerce-outlines-strategy-to-increase-egypts-transit-trade\/"},"modified":"2023-11-22T00:00:00","modified_gmt":"2023-11-22T00:00:00","slug":"alexandria-chamber-of-commerce-outlines-strategy-to-increase-egypts-transit-trade","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/22\/alexandria-chamber-of-commerce-outlines-strategy-to-increase-egypts-transit-trade\/","title":{"rendered":"Alexandria Chamber of Commerce outlines strategy to increase Egypt\u2019s transit trade"},"content":{"rendered":"

ACC puts forward suggestions to boost Egypt\u2019s transit trade:<\/strong> The Alexandria Chamber of Commerce (ACC) is calling for private sector and regulatory reforms to boost Egypt's transit trade volumes and generate FX, according to a memo by the chamber presented to the Transport Ministry\u2019s marine sector and picked up by Al Mal<\/a>. ACC\u2019s proposals call for a greater role for private industry and for a scaling back of customs, administrative procedures, and regulatory requirements.<\/p>\n

A larger role for private industry:<\/strong> ACC\u2019s proposals see private players in Egypt\u2019s shipping sector rolling out investments in ports, logistical zones, and digitization as a way to improve maritime trade infrastructure. The memo also calls for more partnerships between Egyptian firms and global shipping lines, whereby local companies could provide end-to-end solutions that include storage, distribution, express freight, and customs clearances, in addition to value-added services such as packaging, redirection of shipments, and marketing services, Al Mal wrote. ACC also calls for greater coordination between the private sector and the government, Al Mal explained.<\/p>\n

Egypt\u2019s ports also need more connectivity:<\/strong> The chamber has called for the development of new routes between Egyptian ports and global trading hubs as a means to cut down shipping times and freight rates, Al Mal writes.<\/p>\n

Less regulation is also key to boosting transit trade:<\/strong> ACC\u2019s memo cites security controls and worries over consignment responsibility as reasons for Egypt losing transit trade to neighbors such as Turkey. Accordingly, ACC\u2019s proposals call for streamlined controls and clearance procedures and for customs duties on transshipments to be cut in half as a means to incentivize transshipments. This also includes exempting transit shipments from registering on the government\u2019s digital customs window Nafeza, the memo reportedly said. <\/p>\n","protected":false},"excerpt":{"rendered":"

Greater private sector participation and less regulation are key<\/p>\n","protected":false},"author":1,"featured_media":75058,"comment_status":"","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":[41],"tags":[193,49,17,123,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-customs","tag-egypt","tag-enterprise-logistics","tag-shipping-maritime","tag-trade","wpautop","entry"],"acf":{"mongo_id":"64f038b3-3761-4813-829b-c2ec4e63937f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1207.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Alexandria 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