The value of imports into Egypt is usually equal to about one-third and exports about one tenth of the GDP (Goldschmidt et al., 2022). Almost two-fifths of imports consist of raw materials, mineral and chemical products, and capital goods, which could include machinery, electrical apparatuses, and transport equipment. Egypt’s most important exports include petroleum and petroleum products, followed by raw cotton, cotton yarn, and textiles. Raw materials, mineral and chemical products, and capital goods are also exported. Among agricultural exports are rice, onions, garlic, and citrus fruit. Egypt’s most important trading partners include China, the United States, Italy, Germany, and the Gulf Arab countries (Goldschmidt et al., 2022).
The Ministry of Trade and Industry administered Resolution No.43 of 2016 that foreign factories must be registered with the General Organization for Export and Import Control (Nessim, 2022). According to Youssry Saleh & Partners, import is strictly regulated by the Egyptian government permitting Egyptian nationals only and fully owned and managed Egyptian companies to import into Egypt. They suggest that companies and individuals that seek to import into Egypt for the purpose of trade should register with the Register of Importers. As for import restrictions, Egypt’s government has encouraged free trade by active participation in the General Agreement on Tariffs and Trade (Australian Trade and Investment Commission, 2022). This is also an opportunity for one’s company to receive some form of licensing. Youssry Saleh Law Firm states that by Egyptian Law, import of goods and/or products requires an Importation License. These licenses are granted to Egyptian nationals, partnerships where all partners are Egyptian nationals, or companies where all shareholders are Egyptian nationals (Partners, 2016).
