Rédaction Africa Links 24 with MENA
Published on 2024-01-27 10:20:49
In an effort to promote regional trade and development, the Trade and Industry Ministry, through the Trade Agreements Sector, recently met with a delegation from the COMESA Reinsurance Company at the New Administrative Capital (NAC). The primary focus of the meeting was to explore the potential for Egypt to join the Yellow Card system and the COMESA Regional Customs Transit Guarantee (RCTG-CARNET) Scheme.
The meeting was convened in accordance with directives from Trade and Industry Minister Ahmed Samir, who has emphasized the importance of strengthening cooperation with COMESA. The COMESA Reinsurance Company is dedicated to advancing regional trade and development, making it a key partner for Egypt.
Of particular interest during the meeting was the discussion around Egypt’s potential participation in the Yellow Card system and the COMESA Regional Customs Transit Guarantee (RCTG-CARNET) Scheme. The Yellow Card system is an insurance scheme that provides coverage for third-party liability during the movement of vehicles across borders within the COMESA region. By joining this system, Egypt would enhance its participation in regional trade and contribute to the overall development of the COMESA region.
Additionally, the COMESA Regional Customs Transit Guarantee (RCTG-CARNET) Scheme is designed to facilitate the movement of transit goods under customs seals in the Eastern & Southern Africa region. This system streamlines customs processes and reduces barriers to trade, ultimately promoting economic growth and development within the region.
The meeting served as an important step in exploring potential collaborations and partnerships between Egypt and COMESA, with a focus on enhancing trade facilitation and promoting regional development. Through ongoing discussions and cooperation with entities like the COMESA Reinsurance Company, Egypt aims to further integrate into regional trade networks and contribute to the economic growth of the broader COMESA region.
