CargoX extends agreement with Egypt on transfer of global trade documentation

Slovenia-based CargoX announced Monday a long-term extension of its current agreement with the Egyptian government to facilitate the country’s global trade document transfers needs. 

While the length of the new contract was undisclosed, CargoX will continue to work with Misr Technology Services (MTS), a trade and logistics platform 80% owned by Egypt, to provide its blockchain technology for the country’s customs facilitation platform the National Single Window for Foreign Trade Facilitation (NAFEZA). 

NAFEZA became the mandatory system for Egyptian ports on Oct. 1, integrating over 26 cargo clearance-related government systems, reducing the number of customs documents needed in Egypt from 18 to six. 

The adoption of NAFEZA is part of Egypt’s 2030 Vision, a long-term strategic plan to achieve sustainable development across economic, social and environmental sectors. Since adopting the initiative in 2020, Egypt has remained the only country in the Middle East and North Africa to avoid economic recession. 

“In pursuit of Egypt’s ambitious strategy for sustainable development and integration into the global economy, MTS succeeded in implementing the national single window for trade across borders to achieve the transformation from 19th century manual and paper-intensive customs procedures to a modern, state-of-the-art, digital ecosystem,” said Capt. Ossama al Sharif, MTS’ chief executive officer and chairman.