Minister of Finance Mohamed Maait held a meeting with Minister of Communications and Information Technology Amr Talaat to discuss ways to enhance the digital infrastructure of the national single window system for foreign trade.
This aims to ensure the sustainability of the quality of performance, speed, and accuracy of delivery in a manner that reduces the customs release time and costs of clearance. It also targets improving Egypt’s ranking in the World Bank’s “Logistics Performance Index” which will coincide with better facilitating cross-border trade.
During the meeting, the ministers signed a Memorandum of Understanding (MoU) between the two sides to end the financial entanglements that have accumulated over the years, and establish institutional rules for financial transactions between the National Telecommunications Regulatory Authority (NTRA) and the Ministry of Finance. The MoU aims to achieve their objectives, improve services, and implement more projects, as part of the government’s plan to find effective solutions to end the financial entanglements between various government agencies.
Maait said in a press statement today that digital transformation is one of the most important drivers of growth, building competitive and diversified economies, and establishing modern societies that support knowledge, innovation, and attract investments.
He stressed the importance of incorporating the “One-stop shop” system to automate the Egyptian foreign trade system within the national project of digital transformation. Accordingly, fibre lines and services are connected to the logistic service centres established by the Egyptian Company for Electronic Commerce Technology (MTS), especially the logistics centre in Port Said, ensuring the sustainability of the automated system’s quality of its single window project.
According to the statement, it was agreed during the meeting to sign a cooperation protocol between the Customs Authority, MTS, and the National Telecommunications Regulatory Authority (NTRA) to implement the one-stop-shop system. The meeting also explained that modernising the customs system and automating its procedures contributes to improving the business climate and stimulates investment, in addition to encouraging the local industry, especially in light of the fruitful initiatives adopted by the government to maximise their productive capacities, and expand the export base. This leads to the advancement of the national economy in a way that meets the aspirations of citizens and improves their standard of living.
He pointed to the need to strengthen cooperation with the Ministry of Communications and Information Technology in order to ensure the improvement of the performance level of the one-stop-shop in accordance with the latest international experience and standards. Hence, the time required for issuing the result of the examination of messages presented to the national communications system through this system is shortened, and does not exceed 48 hours from the date of presentation.
For his part, Talaat said that he seeks to deepen cooperation with the Ministry of Finance and other state institutions, and provide them with advanced technical expertise that match the latest in global technologies. The cooperation also aims to enhance capabilities to implement digital transformation projects through the establishment of strong infrastructure to ensure successful transition to a digital society that facilitates access to government services electronically at their real value.