EGYPT: PARLIAMENT APPROVES HARMONIZATION OF

UNCLAS CAIRO 000087 SIPDIS STATE FOR NEA/ELA, NEA/RA, EB USAID FOR ANE/MEA MCCLOUD AND DUNN USTR FOR MOWREY COMMERCE FOR 4520/ITA/ANESA SIPDIS E.O. 12958: N/A TAGS: ECON ETRD EG SUBJECT: EGYPT: PARLIAMENT APPROVES HARMONIZATION OF CUSTOMS WITH WCO STANDARDS ¶1. Egypt's upper parliamentary chamber, the Shura Council, has ratified the government's decision to join the "International Convention on the Simplification and Harmonization of Customs Procedures" (Kyoto Convention) to reduce barriers to Egypt's international trade. Under the convention, Egypt is obligated to harmonize its customs procedures in accordance with World Customs Organization (WCO) standards. Egypt brings the total WCO membership to 56 countries; trade between member countries covers 80% of international trade. Egypt's membership takes effect in April 2008. ¶2. Egypt's accession was formally approved in October 2007 by presidential decree, and ratified by parliament in December 2007. WCO adopted the "revised Kyoto Convention" in 1999. The convention contains modern customs documents and procedures to be used in international trade and transport.