Imad Kassir

There are many things that an export import company should keep on top of their checklist, but non more important than the evaluation of financial health of the company. Before shipping internationally, spend some time reviewing with your financial team all the expenses required to export. You want to avoid any serious cash flow problems that could occur from the time an order is placed to the time you are compensated for it. Aside from the financial readiness of an export/import unit, other things that need attention are International Commercial Terms laid down by the International Chamber of Commerce, HS/HTS codes, developed by the World Customs Organization to classify traded goods and all tariffs and fees that apply to international shipments.

Blockchain is a technological means to implement supply chain transparency, giving participating parties access to rich information about the cargo, its whereabouts (i.e. its progress in the chain of supply chain events) and the parties involved in this flow. This transparency will result in increased efficiencies, for example it will enable cargo re-routing decisions (while en-route) and it will improve the ability of Customs to perform risk-based inspections. These and similar benefits will result in accelerating trade flows.

Foreign-trade Zones (FTZ) are secure areas located in or near ports of entry but legally considered to be outside the customs territory for tariff laws and Customs entry procedures.

I agree with Mr. Xavier L., but I would like to add some points: Factor Immobility: The immobility of various factors of production deprives the flexible exchange rate system of its advantages arising from the adoption of monetary and other policies for maintaining internal stability. Such policies produce desirable effects on production and employment only when supply of factors of production is elastic.Failure of Flexible Rate System: Experience of the flexible exchange rate system adopted between the two world wars has shown that it was a flop.

Current importing regulations require that every component of a product be inspected, regardless of the compliance history of the product, country of origin, exporter, shipper, or importer. No import can be sold in Egypt without first proving that it conforms to Egyptian standards if it is on the mandatory list. If there are no Egyptian standards that suit the imported product, then it must be defined using the standards of one of the international organizations that Egypt is affiliated with; e.g. ISO, IEC, and Codex Alimentarius.