He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
The Chamber’s view
The ministry’s representative stressed that the new rules aim at transparency in the supply chain rather than at fixing prices, and that breaches will go to the Consumer Protection Agency.
Verdict
The fair, reviewed
Well organised, and busier than expected.
- Organisation 8.8
- Turnout 8.0
What we liked
- A wide turnout
What we didn’t
- Cramped floor space
Every day of delay in customs release costs an importer more than any tax cut saves him.
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
What it means for traders
- an expanded Ahlan Ramadan fair among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
Reem El-Qady
Mona Abdel-Hakim