What's Hot

    Free trade: Qatar and Morocco conclude second round of talks

    January 31, 2023

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Free trade: Qatar and Morocco conclude second round of talks

      January 31, 2023

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    Egypt stops imports of 814 foreign and local firms due to expired licenses

    April 19, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Lekki Port
    Lekki port is expected to generate USD 201 billion over 45 years.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Egypt’s General Organisation for Import and Export Control (GOEIC) has announced the halting of imports by firms whose certificates and registrations have expired.

    Lapsed registrations

    GOEIC is affiliated with the Ministry of Trade and Industry and has announced the halting of imports from 814 foreign and local factories and companies. The affected companies’ goods will no longer be available on the local market as, according to the GOEIC, their licenses and certificates have expired, with some having violated resolution no. 43/2016 regarding the registration of factories eligible to export their products to Egypt.

    The affected companies include firms from China, Turkey, Italy, Malaysia, France, Bulgaria, the UAE, the USA, the UK, Denmark, South Korea, and Germany. The list includes multinationals including Unilever.

    The move comes as part of the Ministry’s attempts to reduce Egypt’s trade deficit through the issuing of certificates and import procedures along with efforts to increase exports. Decree no. 43/2016 includes the establishment of a register of factories and companies owning trademarks eligible to export products at the GOEIC. Goods may not be released into the local market unless they are produced at registered factories, or, in the case of various commodities, imported through registered distribution centers. The decree includes dairy products, imported fruits, oils, sugar products, carpets and floor coverings, clothing, textiles and furniture, lighting devices for home use, home and office furniture, children’s toys, household appliances, glass, rebar, chocolate, and paper.

    Renewing documentation

    Companies that wish to export to Egypt must renew any expired documentation, and begin renewal processes 30 days before the expiry of any current registration. The GOEIC stated that companies must renew their quality certificates, trademarks, and industrial registry and ensure that their products are subject to quality control checks. The Ministry stated that the affected companies will be notified through its website.

    The suspended companies are those that did not provide the required documentation, according to the Ministry. If companies fulfill their obligations ‘in a timely manner’, GOEIC will remove the ban on imports. Since the beginning of the year, 122 companies have reconciled their status, according to the Ministry.

    One notable exception to the ban were Saudi companies, which, according to a spokesperson, would not be prevented from exporting to Egypt, due to the good relations between the two countries.

    Companies exporting to Egypt that have been removed from the register of licensed exporters may appeal against the decision within 60 days and reconcile their situation.

    Commodities Egypt Imports trade
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleKenya fails to supply milk to Oman due to ongoing drought
    Next Article MENA startups raise USD 900 million in Q1 2022, Africa passes 1 billion USD

    Related Posts

    Business & Trade

    Free trade: Qatar and Morocco conclude second round of talks

    January 31, 2023
    Business Innovation Startups

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Business Entrepreneurship

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023
    View 1 Comment

    1 Comment

    1. Pingback: Construction in MEA region continues to grow despite rising costs

    Leave A Reply Cancel Reply

    LATEST STORIES

    Free trade: Qatar and Morocco conclude second round of talks

    January 31, 2023

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023

    African startups double debt financing

    January 25, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.