Tarek Qabil said that the Cabinet approved on amendments of Importers Register law confirming that the current law dated 1982 and aimed at protecting consumers and market from Counterfeit goods and protecting Egyptian investment.

He pointed out that the law sets requirements to ensure organization of importation and preventing non-qualified importers. The limitation of deposit has been increased from 10 thousand to 500 thousand pounds, and with an average of 2 million pounds of business volume

He stressed that the law expanded the scope of cancellation in case of offenses such as money laundering or harming consumer and will be deleted from Importers' register.

He explained that there is a deadline six months to adjust the conditions under the new law after the approval of Egyptian Parliament, noting that the law does not require that all the shareholders in the companies  be Egyptians and can be non-Egyptian companies but Egyptian director.