Foreign trade and foreign exchange in Egypt are under official control.
These controls were primarily designed to conserve foreign exchange but
since the spring of 1951 they have been expanded to prevent the export
of short supply items.
Except for books, magazines and newspapers, import licenses are
required for all imports. Prior to October 6, 1952, licenses were
required for goods originating in hard-currency countries, while
imports from other sources were in the most part exempt from
restrictions.
Application for imports are submitted to the Controller General of
Imports, Ministry of Finance. Exports are subject to export regulations
which are divided into three main categories: (a) goods that may not be
exported; (b) goods that can be exported freely, through the Customs,
without the need of an export license, and (c) goods that should be
covered by a license. The Import and Export Committee is the main
authority entrusted with the formulation of decisions governing exports
and imports. This Committee is under the Secretaries for Finance,
Commerce and Industry, Supplies, Agriculture, War, the Director General
of Exchange Control, the Director General of Cotton Affairs of the
Ministry of Finance, the Controllers General of Exports and Imports,
and the Director General of Customs.