This guide provides detailed instructions on how to correctly fill in the 'Transaction Terms' section of the Export Goods Customs Declaration. It outlines the steps and considerations for various international trade terms such as FOB, C&F, and CIF. This not only helps improve customs efficiency but also reduces transaction risks, making it an essential reference for anyone engaged in international trade.
The Namibian Revenue Agency visited Zambia to learn about customs automation, aiming to improve trade facilitation and implement the WTO's Trade Facilitation Agreement by studying the application of the ASYCUDA World system. The Zambian Revenue Authority shared their experiences in electronic payments and valuation control. This initiative represents a key step for Namibia in building an efficient customs system and promoting economic development.
The World Customs Organization (WCO) Data Model serves as a 'common language' for cross-border trade. By standardizing data, it empowers customs, regulatory bodies, and traders to achieve efficient and secure cross-border data exchange. Adopting the WCO Data Model can reduce compliance costs, shorten clearance times, and improve supply chain efficiency. Ultimately, this fosters global trade facilitation and economic growth.
The WCO assisted Bahrain in enhancing its Post-Clearance Audit (PCA) and Pre-Arrival Processing (PAP) capabilities to align with the WTO Trade Facilitation Agreement. Bahrain committed to applying the acquired knowledge and skills. The WCO will continue to support Bahrain's customs modernization efforts. This assistance aims to improve efficiency and effectiveness in customs procedures, ultimately facilitating trade and economic growth for Bahrain.
Albania's accession to the Revised Kyoto Convention signifies its commitment to enhancing customs efficiency and integrating into global trade facilitation. As a cornerstone of modern customs procedures, the Convention promotes international trade by streamlining processes, applying information technology, implementing risk management, and strengthening cooperation. This has a profound impact on the global economy, fostering smoother and more efficient cross-border transactions. Its adoption reflects Albania's dedication to aligning with international standards and fostering a more competitive trade environment.
WCO assists Costa Rica in reviewing its AEO manual and strategy to establish a customs-led AEO program, enhancing trade security and efficiency. AEO certification facilitates customs clearance, improves security, and provides international recognition. This initiative aims to streamline trade processes, reduce border delays, and foster a more secure and predictable trading environment for Costa Rican businesses involved in international trade. The focus is on aligning the AEO program with international standards and best practices to maximize its benefits.
The World Customs Organization released the outcomes of the 52nd session of the Harmonized System Committee, including commodity classification decisions and amendments to the Explanatory Notes. Businesses should pay attention to the new regulations and adjust their declaration strategies to avoid trade frictions. Customs authorities will strengthen supervision to maintain trade order. The HS code system is constantly updated, requiring timely learning and mastery. Staying informed about these changes is crucial for smooth international trade operations and compliance.
The WCO conducted customs valuation training in Lesotho to enhance the country's capacity, promote trade facilitation, and support the implementation of WTO agreements, ultimately improving the trade environment. This initiative aimed to strengthen Lesotho's ability to accurately assess the value of imported goods, leading to increased revenue collection and reduced trade barriers. By building local expertise in customs valuation, the WCO's training contributes to a more transparent and efficient trading system, fostering economic growth and regional integration.
The WCO and SACU are collaborating to promote customs IT interconnectivity and data exchange in Southern Africa. The aim is to enhance customs control efficiency, reduce trade costs, and promote regional economic development by establishing unified standards and strengthening information sharing. The meeting focused on practical information exchange modules under the WCO GNC framework and the application of UNCTAD's cloud solutions in cross-border trade. This lays the foundation for a more efficient and secure international trade environment.
The World Customs Organization and the International Chamber of Commerce jointly issued a statement emphasizing strengthened cooperation to accelerate customs and trade facilitation measures in response to the COVID-19 pandemic. This aims to ensure smooth global trade flows and support economic recovery. Both organizations will focus on supporting small and medium-sized enterprises (SMEs) by providing tools and resources through their respective platforms. They will jointly address challenges and work towards reshaping the global trade system.
