New export law in force October 2002

The Export Promotion Law, ratified recently by the People's Assembly (PA), will be in force as of October 2002, Minister of Foreign Trade Youssef Boutros Ghali announced yesterday.

"The law defines procedures for exports, incentives and concessions, and circumscribes the role of the General Authority for Import and Export Controls," Ghali said following the graduation ceremony at the Foreign Trade Training Centre yesterday.

The Foreign Trade Ministry is also collaborating with software companies to set up an electronic network, Ghali said.

"The e-network will link all seaports and the authorities concerned to facilitate and accelerate export processes".

The ministry had originated the law to streamline and regulate export activities in a bid to open new markets for Egyptian products abroad.

Ghali commented that the law is the first step to establishing infrastructure for export-oriented trade.