Egypt Applies Zero-Customs for Gold Expo Participants

Egypt Applies Zero-Customs for Gold Expo Participants

Egypt approved a zero-customs policy for participants of the Nebu Expo for Gold and Jewelry, scheduled for the end of November.

Head of the Gold Division at the Cairo Chamber of Commerce, Hani Milad, announced that the Egyptian Customs Authority agreed with the Assay and Weights Authority to exempt international participants from gold customs and taxes, allowing them to bring their products in their luggage.

The third edition of Nebu will be held between Nov. 25 and 27 amid a rise in the price of gold.

Milad explained that exhibitors in the past two editions had to agree with a shipping company and pay customs and tax duties, which affected the percentage of participants.

However, he expects the number of international participants to double with the new facilities introduced, as long as the incoming shipments will be re-exported with the exhibitors.

Authorities aim to transform Egypt into an international and regional center for gold and jewelry.

According to a document seen by Asharq Al-Awsat, there are 13 steps in the new plan, beginning with the Gold Division notifying the Assay and Weights Authority with a list of names and data of the international exhibitors scheduled to participate in the expo.

It will also include a detailed statement