Egypt to apply zero-customs policy for Nebu Expo for Gold and Jewelry

Egypt has approved a zero-customs policy for participants in the Nebu Expo for Gold and Jewelry. The Head of the Gold Division at the Cairo Chamber of Commerce, Hani Milad, made the announcement.

The event which is a third edition will be held between Nov. 25 and 27. This policy allows international participants to bring their gold and jewellery products into the country without having to pay customs and taxes on them. This move is aimed at promoting Egypt as an international and regional hub for the gold and jewellery industry.

In the past, exhibitors had to work with shipping companies, pay customs and tax duties, and go through a cumbersome process that deterred international participation. With the new policy, the number of international participants is expected to double, and incoming shipments are expected to be re-exported with the exhibitors.

Nebu Expo for Gold and Jewelry

The plan includes several steps, such as notifying the Assay and Weights Authority with a list of names and data of the international exhibitors, providing detailed information about the jewelry artifacts, and coordinating between customs, exhibitors, and organizers. The Egypt International Exhibitions Center Customs will provide a temporary release permit and a secured safe for the imported artifacts, which will be examined and verified before departure.

These measures are expected to significantly increase the number of international exhibitors at the Nebu Expo, with a focus on attracting exhibitors from countries like Turkey (Türkiye) and Italy. The government is also considering extending the customs and tax-free period for gold imports carried by passengers for another six months, which is seen as a measure to support the industry and alleviate the shortage of raw gold and dollars in the country.