Trade Facilitation by the World Customs Organisation

Trade Facilitation

The World Customs Organisation (WCO) plays a crucial role in facilitating trade by simplifying and harmonizing customs procedures, reducing costs, and increasing efficiency.

Key Objectives:

• Simplify and standardize customs procedures
• Reduce trade costs and increase efficiency
• Enhance transparency and predictability
• Increase cooperation and coordination among customs administrations

WCO Instruments:

• Revised Kyoto Convention (RKC): A blueprint for modern customs procedures, providing a framework for simplifying and harmonizing customs procedures.
• WCO Data Model: A standardized framework for collecting and exchanging customs data, facilitating the exchange of information between customs administrations and traders.
• WCO Time Release Study (TRS): A methodology for measuring the time required for customs clearance, helping to identify areas for improvement and increase efficiency.

Trade Facilitation Initiatives:

• Authorized Economic Operator (AEO): A program recognizing reliable and trusted traders, providing them with benefits such as reduced customs inspections and priority treatment.
• Single Window: A platform for submitting and processing trade-related information, reducing the need for multiple submissions and increasing efficiency.
• Coordinated Border Management: A collaborative approach to border management, involving cooperation among customs, immigration, and other agencies to facilitate the movement of goods and people.

Benefits:

• Reduced trade costs and increased efficiency
• Increased transparency and predictability
• Improved compliance and reduced risk
• Enhanced cooperation and coordination among customs administrations
• Increased competitiveness and economic growth

Trade Facilitation

Role of World Customs Organisation (WCO)

• Facilitates trade by simplifying and harmonizing customs procedures, reducing costs, and increasing efficiency

Key Objectives

• Simplify and standardize customs procedures
• Reduce trade costs and increase efficiency
• Enhance transparency and predictability
• Increase cooperation and coordination among customs administrations

WCO Instruments

Revised Kyoto Convention (RKC)

• A blueprint for modern customs procedures
• Provides a framework for simplifying and harmonizing customs procedures

WCO Data Model

• A standardized framework for collecting and exchanging customs data
• Facilitates the exchange of information between customs administrations and traders

WCO Time Release Study (TRS)

• A methodology for measuring the time required for customs clearance
• Helps to identify areas for improvement and increase efficiency

Trade Facilitation Initiatives

Authorized Economic Operator (AEO)

• A program recognizing reliable and trusted traders
• Provides benefits such as reduced customs inspections and priority treatment

Single Window

• A platform for submitting and processing trade-related information
• Reduces the need for multiple submissions and increases efficiency

Coordinated Border Management

• A collaborative approach to border management
• Involves cooperation among customs, immigration, and other agencies to facilitate the movement of goods and people

Benefits

• Reduced trade costs and increased efficiency
• Increased transparency and predictability
• Improved compliance and reduced risk
• Enhanced cooperation and coordination among customs administrations
• Increased competitiveness and economic growth