Question

Identify Egypt’s current import policies with respect to fundamental issues such as tariffs and restrictions and also discuss Egypt’s trade policies and barriers.

steps involved:

introduction

objective

limitations

findings

conclusion

Answer 1

✓ Introduction:
The value that import into Egypt is equal to one-third and export about one-tenth of the GDP. After the 1973 war with Israel,the authorities decided to restrict imports and stimulate exports. Two-fifth of imports consist of raw materials, minerals, chemical products, capital goods and transport equipments.Government is the biggest employer in the country. The country is aiming at boosting it's exporting and limiting it's imports.
✓ Objectives:
There is no tarrif barriers and no licensing systems,but importing some products requires Authorization of the treasury department. Egyptian importers need to register their foreign suppliers with the government. The department of Trade have approved some commodities that requires registration like, (garments, textiles,steel, motorbike,watches, mineral water,soda etc).
Also requires quality control certification to ensure the quality of the products. The aim of the country is to maximize the export business and minimize importing so as to create a growth in economy without compromising quality.
✓ Limitations:
= There are several document restrictions.
= Strict testing of importing samples. The country shows no compromise in quality.
= The law in the country requires all agents & importers should have Egyptian nationality.
= In case of company, the chairman and members of the board should be of Egyptian nationality.
✓ Findings: The country promotes exports rather than imports and they have several restrictions on import policies, so as to limit the imports. In order to improve the economy export activities should be maximized to its limits and Egypt is aiming on that.
✓ Conclusion: Country follows a harmonized customs system,where the custom system is not a barrier for foreign trade. As per the US-Egypt FTA agreement,which is mutually beneficial and Egypt is aiming at exports and it's a good opportunity to improve the country's economy.