Port-Said to Remain a Free City For
Port-Said to Remain a Free City For Another Three Years.
Port-Said is the only city in Egypt deemed to be a Free City – in the sense that no customs duties are imposed on goods entered into it - in its entirety since 1976. From that time on wards it became a commercial and investment center in Egypt. However, since the beginning of the Millennium, it began to be perceived differently, especially as trade and investment in the whole country began to be liberalized. Hence it began to be perceived as not adding that much to the economy, perhaps even contributing in smuggled goods.
It is in this context that attempts began to be made to abolish its free-city status, first with the issuance of Law Number 5 of 2002 which stated that such status was to expire by January 2007.
However, by 2006 Law Number 1 of 2006 was issued and it led to prolonging that period until January 2009. And finally, with the new date approaching, Law Number 5 of 2009 was issued and published in the Official Journal on January 15th, 2009, again extending the deadline for another three years, ending in January 2012, in addition to reducing the import “quotas” for the whole city through this remaining time.
Port-Said is the only city in Egypt deemed to be a Free City – in the sense that no customs duties are imposed on goods entered into it - in its entirety since 1976. From that time on wards it became a commercial and investment center in Egypt. However, since the beginning of the Millennium, it began to be perceived differently, especially as trade and investment in the whole country began to be liberalized. Hence it began to be perceived as not adding that much to the economy, perhaps even contributing in smuggled goods.
It is in this context that attempts began to be made to abolish its free-city status, first with the issuance of Law Number 5 of 2002 which stated that such status was to expire by January 2007.
However, by 2006 Law Number 1 of 2006 was issued and it led to prolonging that period until January 2009. And finally, with the new date approaching, Law Number 5 of 2009 was issued and published in the Official Journal on January 15th, 2009, again extending the deadline for another three years, ending in January 2012, in addition to reducing the import “quotas” for the whole city through this remaining time.