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CargoX authorised as Egypt's blockchain document transfer gateway

Misr Technology Services (MTS) has authorised CargoX as the blockchain document transfer gateway for Egypt’s Advance Cargo Information System (ACI).

The Government of Egypt has made mandatory ACI declarations with its new Egyptian Customs law for all cargo inbound to Egypt starting on 1 July 2021.

MTS set up the National Single Window for Foreign Trade platform (Nafeza) under the mandate of the Ministry of Finance of Egypt in 2020. MTS has now been mandated to design an ACI documentation process, and the CargoX Platform for Blockchain Document Transfer (BDT) has been authorised as the blockchain service provider for registering and transferring the shipping documents with Ethereum technology.

MTS implemented a national platform that covers Egyptian airports, seaports, land ports, dry ports, and free zones in compliance with international standards and best practices.

Nafeza is an integrated information platform. It was built to integrate and coordinate procedures and information exchange between all parties involved in Egypt’s foreign trade system. It allows the business and the trade community to submit all documents and transactions for customs, control authorities, and ports.

The data is submitted only once through an online portal to fulfill all regulatory requirements related to the release of goods. The platform operates in accordance with the international standards of trade-related procedures and customs requirements for the clearance of goods, to convert Egypt into “One Logistical Area”.

Captain Ossama Al Sharif, CEO and chairman of MTS said: “Egypt is proud of its maritime heritage, and we see technological advancements as a driving force of global trade and shipping security, and digitalisation and data visibility are essential for better efficiency and transparency.

“These two leading technological companies working hand in hand will offer a revolutionary solution for the whole region,” Al Sharif explained.

Mr. Stefan Kukman, CEO of CargoX, commented: “We are proud to have been chosen by MTS as a strategic partner to provide the key neutral blockchain technology for improving security in the global trade lanes that run through Egypt.”

Mr. Gamal Kotb, general manager of Misr Technology Systems, said: “We have built the single window system (Nafeza) for trade facilitation in record time, relying on technology and service providers such as CargoX.

“We believe blockchain technology is changing many industries at once - and we are proud that Egypt is yet again a global innovator and a key reference for modernisation.”

CargoX has upgraded its CargoX Platform for Blockchain Document Transfer (BDT) with Advance Cargo Information manifestation capabilities according to the requirements of the WCO SAFE Framework-compliant process, as introduced by the Government of Egypt.

For the needs of the Egyptian Customs Authority and in partnership with MTS, CargoX will act as a gateway for blockchain document transfer, including ACI declaration envelopes, bills of lading, and other original documents required.

Using the CargoX Platform for ACI allows customs authorities to stop relying on declarations from importers. Instead, each document can be easily traced back to its origin, directly to the issuer, thanks to the CargoX technology based on the public blockchain.

ACI filing price shall be set at USD 50.00, with a grace period until the end of April 2021, and the fee applying as of May 1st, 2021.  

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