Egypt Imported Cars, Spare Parts Worth $127 Mn in January

Egypt Imported Cars, Spare Parts Worth $127 Mn in January

Sunday, 4 February, 2018 - 11:30
Egypt imported cars, spare parts worth $127 million in January. (Reuters)
Cairo - Asharq Al-Awsat
A report by the Egyptian Customs Authority revealed the release of the Alexandria Customs of the letters of transport vehicles, buses and spare parts, during the month of January only, worth more than two billion 259 million Egyptian pounds ($127.5 million).

The report, obtained by Asharq Al-Awsat, said that the total customs duties, value added tax and development fee and fines collected from these letters and sent to the treasury amounted to about 772.5 million pounds.

A total of 220.6 million pounds were the value for customs fees, 134.159 million pounds were for fees and other fines, 364.2 million pounds were for VAT and 53.5 million pounds were the value of import development fee.

It referred to the release of letters of cars and spare parts, which enjoy customs reductions in accordance with Egypt's trade agreements with the European Union, Turkey and Agadir.

Headed by Dr. Magdy Abdulaziz, the Egyptian Customs Authority will submit the report to Finance Minister Amr al-Garhy.

The report said that the value of customs fees of which these letters were exempted from during January 2018 amounted to about 436 million 186 thousand Egyptian pounds.

According to the report, the General Administration of Automobile Customs in Alexandria released car letters only last January, which included 5,280 vehicles worth one billion and 301 million pounds along with 420 transport cars, "micro buses", motorcycles and tractors worth 403.3 million pounds and 696 letters of car spare parts worth 554 one million pounds.

In a related matter, General Motors Egypt exported a shipment of locally manufactured Chevrolet Optra to the Libyan market.

This move comes within the framework of the export promotion policy. The company started its export journey by exporting a minibus shipment to Saudi Arabia and then exporting a batch of minibuses to transport the passengers to Ghana in support of the mass transport sector in the African continent.

The company also produces and exports domestic car parts to Vietnam and South Africa.

Managing Director for General Motors Egypt and North Africa Tarek Atta said that the move confirms GM Egypt's leadership in the automotive industry in the Egyptian market for many years, as well as its commitment to the highest international standards in the manufacture of all cars produced locally at the company's factories.

“The export of a shipment of Chevrolet Optra to Libyan markets is a quality certification in itself,” Atta stressed.

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