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The head of the Customs Department Ahmed Farag Saudi expects that the Egyptian custom’s revenues will be affected by the global financial crisis this year with a drop up to 2 billion pounds compared to last year.
Egyptian customs Department, he adds, is currently facilitating the procedures for businessmen through providing some custom exemptions and facilities as well as establishing industrial areas and customs posts so as to provide various services to investors and businessmen in production locations.
Moreover, Saudi points out that the Technical Committee of the Arab Customs Law is scheduled to be convened in the first of April to complete the steps necessary for establishing an Arab customs union, referring that the global financial crisis began to badly affect the majority of developed countries, which require new mechanisms to facilitate and increase bilateral trade as well economic cooperation between Arab countries.
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