Cabo Verde, the picturesque island nation off West Africa's coast, has taken significant steps to address cargo clearance delays that have been draining business resources and hindering economic growth. With support from the World Customs Organization (WCO), the country has completed a comprehensive Time Release Study (TRS) to streamline its customs procedures.
WCO-WACAM Project Provides Critical Support
Funded by the Swedish government, the WCO's WACAM project has provided Cabo Verde's Customs Administration with comprehensive technical assistance to conduct the landmark TRS. This study meticulously measures the average time required for cargo clearance from port arrival to final release, identifying bottlenecks and proposing process improvements.
Strategic Importance for Investment and Trade Compliance
The publication of average release times carries strategic significance for Cabo Verde. Transparent customs data enhances investor confidence, particularly for foreign direct investment decisions where efficient clearance processes are crucial. The initiative also demonstrates Cabo Verde's commitment to implementing the WTO Trade Facilitation Agreement, strengthening its international standing.
Multi-Stakeholder Collaboration Yields Results
Customs Director Guntar Campos confirmed that all stakeholders involved in the June 2017 TRS conducted at Praia port convened on January 11, 2017 to finalize and validate the report. This collaborative effort highlights the government's commitment to trade facilitation. The English version of the report is currently in translation, with publication expected in Q1 2017.
Key Findings and Process Optimization
The TRS report marks a milestone in Cabo Verde's trade facilitation progress, offering detailed analysis of clearance procedures and actionable recommendations including:
- Documentation simplification through reduced paperwork and electronic processing
- Streamlined inspection protocols using risk management approaches
- Port infrastructure upgrades to accelerate cargo handling
- Enhanced inter-agency coordination between customs, ports, and inspection authorities
WCO's Continued Partnership
Director Campos expressed appreciation for WCO's support through the WACAM project and invited the organization to participate in upcoming press briefings about the TRS findings. This collaboration reflects shared objectives for advancing trade facilitation in Cabo Verde.
Broader Impact of WCO-WACAM Initiative
The WCO-WACAM project serves as a vital platform for developing nations to enhance trade competitiveness by:
- Strengthening customs administration capabilities
- Reducing trade barriers and transaction costs
- Improving investment climates through transparent procedures
- Facilitating greater participation in global value chains
Implementation of the TRS recommendations is expected to significantly improve Cabo Verde's clearance efficiency and business environment, potentially attracting increased foreign investment. The WCO maintains its commitment to supporting Cabo Verde's ongoing trade facilitation improvements.