The Advance Cargo Information (ACI) system uses blockchain-based technology to fully automate the customs process for goods passing through and coming into Egypt.
The Egyptian government is launching a new trade facilitation system as part of a wider effort to solidify Egypt as the region’s most advanced global logistics hub. Following a number of pilot tests implemented in a select number of ports since April 2019, the new Advance Cargo Information (ACI) system will be rolled out to all Egyptian ports starting October 1st.
In an effort to automate and speed up the customs process for all cargo entering Egypt, the ACI system will use blockchain-based technology to identify goods before they are shipped, enabling them to be checked and cleared before they reach Egyptian soil.
Since launching the single digital trade portal for all import, export and transit operations 2.5 years ago, Egypt has been establishing a number of high-tech logistics centres across the country.
Launched as the National Single Window for Foreign Trade Facilitation (Nafeza), independent evaluation of custom centres already using the ACI system have identified a 55% increase in processing times. Since its implementation, the World Customs Organisation have officially recognised the logistics hub whilst over 16,000 companies importing goods into Egypt have registered themselves on the new ACI system.
After South Africa, Egypt is the continent’s second largest importer of goods and the largest importer of wheat and asphalt. In 2019, Egyptian imports were valued at USD $78.6 billion by the World Bank-WITS.
Speaking of the upcoming roll out, H.E. Dr. Mohamed Maai, Egypt’s Minister of Finance stated: “The implementation of the Advance Cargo Information system is a crucial step in our plans to transform Egypt’s trade infrastructure. This new technology will make it much easier for companies all over the world to trade with Egypt, helping to deliver the Government’s plan to create the most advanced logistics hub in the region.”