Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, recently met with a delegation from the Korea International Cooperation Agency (KOICA) to discuss the development of a digital platform aimed at improving trade facilitation in Egypt. The meeting, held on Saturday, was led by Jinyoung Kim, the Head of KOICA’s Egypt and Middle East Office.
The primary focus of the meeting was on the joint efforts to implement a digital platform for integrated risk management to enhance trade. This platform, which will be used by the General Organization for Export and Import Control (GOEIC), aims to streamline and accelerate trade processes in Egypt.
Minister Al-Mashat emphasized the strong ties between Egypt and South Korea, praising South Korea as one of Egypt’s key partners in Asia. She highlighted their collaboration as an example of successful international partnerships that align with Egypt’s national development goals. She also noted that Egypt is one of the five priority partners in South Korea’s development cooperation initiatives, underscoring the shared commitment to sustainable development through bilateral efforts.
The Minister reiterated her ministry’s commitment to coordinating cooperation efforts with South Korea, aligning with Egypt’s Vision 2030 and the government’s strategic priorities. She also highlighted the ministry’s role in implementing Egypt’s economic and social development plans, integrating national priorities with international partnerships. In particular, the ministry focuses on using modern technologies to enhance government performance and drive digital transformation in various sectors.
Al-Mashat praised KOICA’s financial and technical support for the project, noting its potential to improve Egypt’s trade system by facilitating customs clearance, reducing administrative obstacles, and ensuring compliance with international standards. The project is aligned with Egypt’s push towards digital transformation and economic sustainability.
The project is expected to provide accurate data that will assist decision-makers in formulating more effective trade policies. Its long-term benefits include fostering digital integration among government agencies, improving government operations, and reducing bureaucratic red tape. Al-Mashat emphasized the project’s potential to enhance Egypt’s business environment and attract foreign investment, thereby improving Egypt’s global competitiveness and ease of doing business rankings.
KOICA presented the project’s significance and implementation phases, emphasizing its potential to reduce waiting times at customs ports, lower operational costs for businesses, and boost foreign investor confidence in Egypt’s trade system. The project is set to run from mid-2024 to the end of 2029 and includes the development of a digital risk-based inspection system for industrial goods, the creation of a digital track-and-trace system, and the establishment of a digital passport system for industrial products in Egypt’s local market.
Ms. Jin Young Kim, Regional Director of KOICA Egypt, commended the strong collaboration between KOICA and Egypt’s Ministry of Planning. She highlighted the project as a major step in KOICA’s digital transformation efforts and expressed confidence that it would improve Egypt’s trade facilitation and global trade competitiveness by streamlining import inspection processes. The project will also involve developing machine learning models to improve cargo selection accuracy and efficiency, along with creating a strategic plan for the inspection and tracking system.
