EGYPT ON A SPREE TO RELEASE GOODS STUCK AT PORTS – US$ 6.25 BILLION WORTH OF GOODS RELEASED IN DECEMBER ONLY!
Egypt’s Prime Minister Mostafa Madbouli visited Alexandria on Saturday to follow up on measures of releasing goods stuck at ports as per presidential directives.
The PM was escorted by the Ministers of Supply, Transport, Finance, Agriculture, and Trade & Industry, the Governor of Alexandria, the secretary general of FEDCOC & CEEBA, and the heads of relevant government authorities.
Over US$ 6.25 billion worth of goods have been released during December alone, rendering the remaining amount around US$ 9.5 billion inclusive of US$ 3.4 bulk products which are typically stored in Silos and tanks in the port for reexport or local market.
During the press conference that followed the visit, PM Madbouly announced the plans for expediting the release of goods at the ports, where priority is given to food products, pharmaceuticals, and industrial raw materials, which have been stuck at ports for months due to previous shortage in foreign currency.
He added that what we are witnessing today in the Port of Alexandria is repeated in all Egyptian ports, and prioritization is done by the Federation of Chambers of Commerce “FEDCOC” and Federation of Industries “FEI” in collaboration with the Minister of Supply and the Minister of Trade and Industry and the Central Bank.