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Thursday, 17 February 2022

Last Night’s Talk Shows: More imports paperwork talk

The CBE’s new import rules led coverage on the airwaves for a second day running. We have more on the new rules in this morning’s Trade section, above.

There were advocates: A central bank directive to reduce fees for importers to obtain letters of credit (L/Cs) is key and means that importers will not face any additional charges, said Federation of Egyptian Banks (FEB) head Mohamed El Etreby in a phone-in with Ala Mas’ouleety (watch, runtime: 26:21). The central bank has told lenders to bring L/C fees down to match those for documentary collection, according to new details circulating in local media that were issued by the FEB.

And there were critics: The CBE should exempt local manufacturers and producers — who import spare parts, machinery and equipment for production — from the new rules, deputy chair of the House of Representatives’ industry committee Mohamed El Sallab said in a call with Yahduth Fi Misr (watch, runtime: 6:16). Masaa DMC’s Ramy Radwan (watch, runtime: 2:53) echoed his sentiment in his coverage of the story.

El Sisi’s attendance at the EU-AU summit in Brussels also got more airtime: President Abdel Fattah El Sisi’s sit-down with Belgium’s King Philippe, as well as the agreements he signed with Belgian companies in green hydrogen, energy and defense, got coverage from Ala Mas’ouleety (watch, runtime: 7:31; 5:46). We have more in this morning’s Diplomacy section, below.

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