CAIRO - 5 December 2024: Deputy Minister of Finance and Supervisor of the Customs Authority, Sherif El-Kilany, has signed an agreement for the mutual recognition of the Authorized Economic Operator (AEO) program between the Egyptian Customs Authority and the Zakat, Tax, and Customs Authority of Saudi Arabia.
The agreement is designed to improve trade flows and supply chains in international trade, offering reciprocal benefits for the private sectors of both countries. It also marks a step forward in strengthening bilateral relations through the mutual recognition of the AEO program.
The agreement is expected to facilitate smoother trade, reduce costs, and expedite customs procedures. Authorized economic operators will benefit from advantages such as priority customs inspections and reduced tariffs, which will encourage further investment and business expansion.
This collaboration will support regional economic integration and attract more foreign direct investment to both Egypt and Saudi Arabia.
Comments
Leave a Comment