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Alexandria Customs clears EGP 55.7bn European cars in 2019

Alexandria Customs clears EGP 55.7bn European cars in 2019
EGP 15.38 billion of custom duties and tarrifs were collected on European cars

Cairo – Mubasher: The Egyptian Customs Authority in Alexandria issued clearances for European cars and spare parts worth a total EGP 55.71 billion ($3.54 billion) during the 13-month period that ended on 31 January 2020, since the zero-customs policy came into effect at the beginning of 2019.

A total of EGP 15.38 billion in duties and tariffs were collected, according to the head of the Egyptian Customs Authority, Kamal Negm.

Moreover, Alexandria Customs collected duties of EGP 9.29 billion for releasing 115,510 private vehicles that are valued at EGP 33.8 billion, according to a statement by the Ministry of Finance (MoF) on Wednesday.

A large number of private cars benefited from Egypt’s partnerships with the EU, the Agadir Agreement, and free trade agreement with Turkey, with exemptions amounting to more than EGP 15.41 billion.

Additionally, the authority issued clearances for 17,630 vehicles, such as pickup trucks, microbuses, motorcycles, and tractors, worth a total value of EGP 10.28 billion last year, collecting EGP 2.33 billion in duties, with exemptions amounting to EGP 699 million.

Furthermore, customs released around 11,210 spare part shipments worth EGP 11.62 billion in 2019, with imposed duties and tariffs amounting to EGP 1.31 billion, and exemptions reaching EGP 291 million, Negm further noted.