Egypt, Bahrain, UAE Agreements To Ease Customs Process

Egypt is gearing up to finalize two landmark agreements with Bahrain and the UAE in early 2025. These deals aim to drastically reduce customs clearance times for imports and exports to just a few hours, according to Sherif El-Kilany, Deputy Minister of Finance for Tax Policies.

In an interview with Al-Arabiya Business, El-Kilany shared that these agreements are part of the Mutual Recognition for the Authorized Economic Operator (AEO) Program. This initiative seeks to simplify and accelerate customs procedures for selected companies.

The agreements will include reciprocal visits between Egypt, Bahrain, and the UAE to review each country’s customs systems and establish a list of approved companies. Businesses on this list will benefit from expedited customs clearance, bypassing the usual protocols. Goods will clear customs within hours, facilitating smoother trade flows.

El-Kilany emphasized that this step is part of Egypt’s broader effort to enhance trade relations with Gulf nations. The agreements aim to support major exporters who drive a significant portion of trade between the participating countries.

“These initiatives will not only speed up customs procedures but also strengthen economic ties and boost trade volumes with Bahrain and the UAE,” El-Kilany explained.

Egypt has already achieved notable success with a similar agreement with Saudi Arabia. The deal has slashed customs clearance times between the two nations from three days to just three hours. This progress underscores the potential of the upcoming agreements to revolutionize trade efficiency across the region.

With these agreements in place, Egypt’s commitment to fostering stronger economic partnerships and reducing trade barriers is clear. As early 2025 approaches, businesses and exporters can anticipate a streamlined process that promises to enhance regional trade opportunities.