Egypt

Located in Northern Africa bordering the Mediterranean Sea between Libya and the Gaza Strip, Egypt is a republic with its capital at Cairo. The legal system is based on Islamic law, and Napoleonic codes. The Chief of State is the President, and the Head of Government is the Prime Minister. There is a bicameral legislature: the People’s Assembly and the Advisory Council. Arabic is the official language but English and French are widely understood. Egypt is a member of the UN and IMO.

Whilst for several years, half of Egypt’s gross national product originated in the public sector, and most industrial plants were owned by the government, the situation has now changed in this respect as Egypt adopted a privatization scheme whereby the private and the Public Enterprise Sectors largely contribute in Egypt’s gross national product side by side with the public sector. Its chief exports are crude oil and petroleum products and also cotton, yarn and raw cotton. Leading trading partners are the EU, Japan, and the United States.

The monetary unit is the Egyptian pound. The Egyptian Registry of Ships Act for 1949 governs the Egyptian Ship Registry which is under the control and management of the Egyptian Ministry of Maritime Transport.