|Egypt||20ft container||40ft container|
|port of Cairo||£1690.00||£2100.00|
LCL shipping from our London office in Feltham TW14 post code to Egypt ports
|Total Volume *||Damietta (EGDAM)||port of Cairo||Port Said|
|Destination||50 kilos||200 kilos||500 kilos|
|port of Cairo||£139.00||£315.00||£712.00|
|Destination||50 kilos||200 kilos||500 kilos|
* Documentation surcharge applies to any shipping to Egypt.
* For an accurate price, please use our online quotation form above and provide detailed information about your shipment requirement to Egypt.
A guide for British businesses who are interested in developing their overseas trade and doing business in Egypt.
Egypt is a lower middle income country with a population of almost 90 million. In 2013 it had an annual Gross Domestic Product (GDP) per capita of USD 3314.
Since 2014, the economy has been on a path to recovery. It was the largest destination for all Foreign Direct Investment into Africa. Its stock market (EGX) was the best performing in the world in terms of returns.
Egypt is highly import dependant and is likely to remain so for the foreseeable future. Significant investments in ports, airports, highways and railways are planned which will lead to more efficient movement of goods.
Many UK companies are already doing business in Egypt, including BP, Shell, BG Group, Vodafone, Barclays, HSBC, GSK, AstraZeneca and Unilever amongst many others.
Strengths of the Egyptian market include:
Egypt has some unique challenges, including:
Egypt has a GDP of USD 369 billion. Its growth rate for the first half of 2014/15 was 4%, compared with 2% in 2013/14.
Egypt is looking to get its economy back on track. Investment will increasingly become the main support for growth, as subsidy reform weighs on private and government spending.
Investment was reinforced with a high profile conference in Sharm el Sheikh in March 2015. During the conference, an estimated USD 36 billion of private sector deals were signed, with a further USD 12 billion of support pledged by regional allies.
Egypt has planned investment reforms, which include:
It is estimated that between USD 200 and 300 billion worth of projects are needed to solve the country’s electricity and housing shortages. This will also generate jobs for an expanding population through broader economic diversification.3.2 Trade agreements
Egypt is a member of the following organisations:
A list of Egypt’s bilateral and regional agreements is available from the Ministry of Trade and Industry.
Egypt was the UK’s 42nd largest export market for goods and 55th largest export market for services in 2013. Between 2001 and 2014, UK exports of goods to Egypt fell by around 9%. They were worth £1 billion in 2014.
Top UK exports of goods to Egypt include:
Education and training is a major priority for the Egyptian government and reform is highly required in all levels and all industries.
There is a strong growth in private schooling and independent for-profit universities, some of which include foreign participation. Schools are being upgraded at the rate of 10% each year with modern facilities such as computers, multimedia laboratories and internet connectivity.
Approximately 11.9% of government spending is on education and is forecast to increase by 10%. Government educations plans include:
Egypt is open to foreign participation in all areas of the education and training sector. The British education system is highly respected in Egypt. Opportunities for UK companies include:
The oil and gas sector accounts for 15% of national GDP in Egypt and 31% of Foreign Direct Investment (FDI).
Egypt is making positive strides towards reforming its oil and gas sector. Repayment of debt owed to oil companies and commitments to be debt free by end-2016, have provided a boost to upstream investment.
There are around 50 international petroleum companies currently operating in Egypt in exploration, digging and oil extraction. There are approximately 143 rigs in operation. Major oil companies have committed billions in investment to Egypt’s upstream including:
Opportunities for UK companies include:
Egypt offers an excellent and growing market for retail that is supported by:
The government is looking to develop an efficient retail environment, supporting various sectors of the growing economy. To this end, it sees itself as a main partner in the development of Egypt’s retail sector. It is keen to attract foreign investment to enhance competition and modernize the retail environment. More retail complexes are opening around the country and increasing numbers of new brands are entering the market.
At least 30 well known UK retail brands are currently trading successfully in Egypt. There are various opportunities in:
Egypt’s demand for electricity is growing rapidly and there is an urgent need to develop alternative power resources.
The power supply programme 2010-2020 aims to add about 30,000 MW to installed capacity, almost doubling electricity generation. This programme includes investment in a variety of projects and indicates an annual investment in excess of USD 3 billion.
Currently, 88% of total electricity capacity is dependent on oil or natural gas, while the share of wind and solar power represents only 3%. However, Egypt is considered to have a great wealth of renewable energy resources. It hopes to produce 12-20% of its electricity from renewable sources by 2020.
To achieve this target, the government introduced a new ‘feed in tariff’ scheme for wind and solar energy production with capacity of 50 MW or less. It also announced sovereign guarantees and interest subsidy loans, depending on production capacity.
In January 2015, the New and Renewable Energy Authority (NREA) selected 18 foreign investment bids with a value of USD 6 billion to build renewable power plants. The total capacity of 4,000 MW will ber divided between solar and wind power projects.
To further diversify Egypt’s energy mix, coal imports for use by energy-intensive industries will be permitted, within limits.
There are opportunities for UK companies in the following projects:
The Suez Canal Zone (SCZone) project is worth estimated at £20 billion over 15 years. The project presents UK companies with significant opportunities in:
Other opportunities in the construction and infrastructure sector include:
There are several ways you can do business in Egypt. The most common are:
There are a number of laws in Egypt that regulate business, the 2 main ones are:
The Ministry of Industry and Trade is the primary agency responsible for issuing decrees making standards mandatory.
The Egyptian Organisation for Standardisation and Quality (EOS) is the official body responsible for standardisation activities, quality and industrial metrology.7.2 Intellectual Property (IP)
Egypt is signatory to the main Intellectual Property Conventions (Rome, Paris, Berne and Washington). Egypt passed a new IP law in June 2002, bringing practices in line with WTO Law 82 of 2002.
The Egyptian Center of Intellectual Property and Information Technology (ECIPT) can help provide information for IP related queries.
Trademark counterfeiting, copyright piracy and patent infringements remains a major problem in Egypt. Enforcement of IP law is not strong.
The VAT rate is currently 10%.8.2 Corporate tax
The corporate tax rate in Egypt is currently 22.5%. Oil and exploration activities are taxed at a higher rate of 40.55%.8.3 Individual tax
The maximum individual tax rate is 25%.8.4 Indirect tax
The tax rate for goods ranges from 10% to 50% for goods. For services, the tax ranges from 5% to 10%.8.5 Customs
The Egyptian Customs Authority as a part of the Ministry of Finance implements laws and regulates customs. The Ministry of Finance issues decrees dealing with custom tariffs for each imported product.
For goods sourced from the UK or the European Union (EU), the Egyptian Customs Authority accepts the EUR1 certificate of origin form and applies preferential import duties.8.6 Documentation
The following documents are required for any shipment to be accepted through customs in Egypt:
Egypt no longer requires import licenses for most products, although licenses are still required for animal products.
English is widely spoken throughout Egypt.
Although it is common for written correspondence to be in English, Arabic is often preferred within some public sector organisations.