The agreement aims to enhance trade flows and supply chains in international trade, providing reciprocal benefits for the private sectors of both countries
Deputy Minister of Finance and Supervisor of the Customs Authority, Sherif El-Kilany, signed an agreement for mutual recognition of the Authorized Economic Operator (AEO) program between the Egyptian Customs Authority and the Zakat, Tax, and Customs Authority of Saudi Arabia.
The agreement aims to enhance trade flows and supply chains in international trade, providing reciprocal benefits for the private sectors of both countries. It also includes the mutual recognition of the AEO program between the two authorities, contributing to the strengthening of bilateral relations.
The mutual recognition agreement between Egypt and Saudi Arabia marks a significant step toward enhancing economic cooperation between the two countries. This agreement will facilitate trade flows, reduce costs, and expedite customs procedures.
It will also provide authorized economic operators with numerous benefits, such as priority customs inspection and reduced tariffs, encouraging them to increase their investments and expand their businesses. This agreement will contribute to regional economic integration and attract more foreign direct investments to both countries.
