Egypt seeks to benefit from IMF's financial expertise

An ad hoc ministerial committee headed by Prime Minister Atef Ebeid met yesterday with Director of the Middle East Department at the International Monetary Fund (IMF) George Abed.

Ebeid stressed the necessity using the IMF's expertise like happened in upgrading financial sectors in Tunisia, Turkey, and Morocco.

He added that the IMF is considering a detailed study of methods to improve the performance of customs administration.

The government is reforming customs systems in a bid to increase exports and facilitate trade, Minister of Finance Medhat Hassanein said after the meeting.

Hassanein said the government is carrying out an overall development plan of the customs system in order to promote exports and facilitate trade flow.

He said Ebeid underlined the importance of cooperation with the IMF on upgrading the Egyptian taxation sector.

On his part, Abed, said the fund has prepared detailed studies to develop the taxation and customs systems in Egypt.

He added that this development will turn Egypt's customs zones from mere goods stores into hubs of exports.