Egypt won’t receive more requests from importers seeking better status

Egypt’s Ministry of Industry and Trade will close its doors to receive requests from importers, seeking to adjust their positions in accordance with Law No. 7 of 2017 related to importers’ registration.

On 7 March 2017 the former Minister of Industry, Tarek Kabil,  issued Law No. 7 of 2017 amending Law No. 121 of 1982 establishing the Importers Register. Most of the amendments are related to importers’ registration requirements and the sanctions for violating the requirements.

Head of the General Organization for Export and Import Control Ismail Gaber told Amwal Al Ghad that the total number of importers who submit a request reached 46,500.

According to the new amendments, The paid quotas in capital for a limited liability company is no less than EGP 2 million,  while it should not be less than EGP 5 million for joint stock companies.

Gaber Further noted that they will write-off the importers who haven’t adjust their position whose numbers have reached to 10,000 importers after closing dates for applying.