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Industry Committee Committee Objectives 2. Work on the advancement and facilitation of industrial development and competitiveness at the fastest possible pace through: Removing the most critical impediments, introducing new ideas, and communicating opinions to decision makers. The Industry Committee will concentrate on five key areas: reinstating and fully stabilizing the drawback system, reducing the importation cycle to seven days, encouraging the implementation of an Egypt-US FTA, harmonizing Egyptian industrial regulations in line with international standards and discussing the executive regulations of antitrust legislation. Drawback system: Following a government decree, all imported inputs shipped to Egypt before February 28, 2005 can be cleared using the usual drawback system - which requires full customs duties to be paid on semi-finished inputs though lets exports reclaim this amount when they export products containing the finished product. Re-exported inputs shipped after February 28 are not eligible for drawbacks, but can be cleared under a modified system termed the "Immediate Refund of Duties." The core group deemed this system adequate for industries using a limited number of imported inputs, but less suitable for industries requiring a large number of imported components. (Group leaders: Mohamed Samir and Rami Zaki, Procter & Gamble Egypt). Import cycle: The current import cycle slows down trade and causes the unnecessary build-up of inventory. Last year's tariff reductions were a step in the right direction, but further efforts to restructure tariffs are needed. The core group will push to have the importation cycle reduced to seven days. (Group leader: Alaa Hashim, MAC Carpet). FTA: While regional and bilateral trade agreements have been important to promoting Egyptian exports and improving the competitiveness of Egyptian-made products, there are potential opportunities in an FTA with the US. The core group will push to accelerate the conclusion of an Egypt-US FTA, which would be a great asset to the country's economic development. (Group leader: Omar El Derini, FAOM Consult/Red Wing) Standards: The implementation of international and Egyptian standards is essential to the competitiveness of Egyptian products in global markets. The core group will work to simplify local standards relating to product safety, health and environment - and harmonize them with international ones. (Group leaders: Mohamed Fahmi, SC Johnson Egypt and Sherif Hafez, 3M Egypt Trading Ltd.). Antitrust The Executive regulations of the Competition and Anti Monopoly Law : Industry is concerned with the proposed new Competition and Antitrust Law, specifically the threshold of 35 percent market share, and the capabilities needed in the governing body that will control any monopolistic activity. The group will continue to monitor and provide feedback for the executive regulations of the legislation. (Group leaders: Sherif Hafez, 3M Egypt Trading Ltd. and Rami Zaki, Procter & Gamble Egypt). Contacts
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