Customs Valuation and Transfer Pricing Align for Multinationals

Customs Valuation and Transfer Pricing Align for Multinationals

The World Customs Organization (WCO) and the OECD jointly held a seminar in Pretoria, focusing on the nexus between customs valuation and transfer pricing. The conference promoted cooperation between tax and customs authorities, exploring the application of transfer pricing studies in customs valuation. It emphasized information sharing, aiming to build a fairer international trade environment. Discussions centered on how transfer pricing methodologies can inform customs valuation practices, ensuring accurate and equitable assessment of goods for duty purposes. The initiative seeks to enhance transparency and combat illicit financial flows related to trade.

12/30/2025 Customs Knowledge
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WCO SICPA Enhance Global Supply Chain Security Partnership

WCO SICPA Enhance Global Supply Chain Security Partnership

The World Customs Organization (WCO) and SICPA are deepening their cooperation to enhance global supply chain security. Through SICPA's support for WCO capacity-building programs, both parties are jointly combating counterfeiting and improving customs enforcement capabilities, aiming to build a safer and more efficient international trade system. This collaboration demonstrates the commitment of governments and the private sector to jointly maintain global trade order. The partnership focuses on strengthening customs administrations to effectively address security threats and facilitate legitimate trade flows.

12/30/2025 Customs Knowledge
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Malawi Customs Strengthened Against Wildlife Trafficking

Malawi Customs Strengthened Against Wildlife Trafficking

The INAMA Project aims to enhance the capacity of Malawi Customs to combat illegal wildlife trade. Through diagnostic assessments, training implementation, and risk management workshops, the project assists Malawi Customs in building risk defenses. It strengthens cooperation with customs administrations of other countries to jointly address the global challenge of illegal wildlife trade, protect endangered species, maintain national security, and facilitate trade. The project ultimately contributes to a more secure and sustainable future by mitigating risks associated with wildlife trafficking.

01/05/2026 Customs Knowledge
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WCO Advances Customs Modernization with Updated ECP Plan

WCO Advances Customs Modernization with Updated ECP Plan

The WCO's revised Phase IV of the ECP Action Plan aims to advance global customs modernization and promote trade facilitation and security. This is achieved through initiatives like compiling transit trade best practices, revising data model guidelines, focusing on Small Island Economies, researching Special Customs Zones, reviewing the Kyoto Convention, exploring rail customs procedures, developing PLACI guiding principles, aligning AEO with ICAO programs, and updating the disruptive technology report. These efforts collectively contribute to a more efficient and secure global trade environment.

01/20/2026 Customs Knowledge
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WCO Council Supports Global Customs Cooperation Amid Challenges

WCO Council Supports Global Customs Cooperation Amid Challenges

The World Customs Organization (WCO) Council convened, highlighting the crucial role of customs in the context of the global pandemic. Several resolutions were adopted, including approving the financial budget and revising the Harmonized System. These aim to strengthen global customs cooperation, leverage technological innovation, and promote trade facilitation and sustainable development to address global trade challenges and ensure secure and smooth supply chains. The meeting emphasized the importance of international collaboration in navigating the complexities of the current global trade environment.

01/27/2026 Customs Knowledge
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Gambia Boosts Customs Risk Management with Global Partners

Gambia Boosts Customs Risk Management with Global Partners

The Gambia Revenue Authority, with support from the World Customs Organization and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), conducted a series of workshops aimed at building a strategic framework for risk management. This initiative introduces an intelligence-driven risk management approach to enhance trade facilitation and strengthen customs controls. This marks a significant step for The Gambia in improving customs administration and promoting smoother trade processes. The focus is on proactively identifying and mitigating potential risks while simultaneously streamlining legitimate trade flows.

01/26/2026 Customs Knowledge
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New Customs Model Launched at China-mongolia's Largest Land Port

New Customs Model Launched at China-mongolia's Largest Land Port

The pilot project of the 'Three Mutuals' customs reform has officially launched at the Erenhot port, marking a significant optimization of customs procedures. The new model has achieved customs and inspection cooperation, simplified exit procedures, and significantly improved customs efficiency, injecting new momentum into trade facilitation.

11/26/2015 Logistics
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WCO and UN Push for Global Trade Data Standardization

WCO and UN Push for Global Trade Data Standardization

The World Customs Organization (WCO) recommends that its member customs administrations transmit trade data based on the Harmonized System (HS) to the United Nations Statistics Division (UNSD). This aims to promote the standardization and interoperability of global trade data. This initiative is significant for improving data quality, strengthening international cooperation, promoting trade facilitation, and fostering sustainable development. Ultimately, it contributes to building a new landscape for global trade data sharing.

11/03/2025 Customs Knowledge
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WCO Backs Ugandas Trade Reforms for Economic Growth

WCO Backs Ugandas Trade Reforms for Economic Growth

The WCO supports the Uganda Revenue Authority in implementing the WTO's Trade Facilitation Agreement, enhancing trade efficiency. Uganda's adoption of WCO tools has significantly improved its trade facilitation performance. This collaboration has streamlined customs procedures, reduced border delays, and fostered greater transparency, ultimately contributing to economic growth and regional integration in Uganda. The initiatives focus on capacity building, automation, and risk management to modernize customs operations and facilitate legitimate trade flows.

01/27/2026 Customs Knowledge
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Container Freight Rate Surge And BDI Decline A Comparative Analysis Of Foreign Trade Recovery And Market Structure

Container Freight Rate Surge And BDI Decline A Comparative Analysis Of Foreign Trade Recovery And Market Structure

This article analyzes the underlying reasons for the sharp rise in container shipping prices alongside the continuous decline of the Baltic Dry Index (BDI) in the bulk cargo market. It points out that the container shipping market is thriving due to the recovery of foreign trade, while the bulk cargo market is in decline due to weak steel demand, revealing the opposition and mutual influence between the two in the context of economic reality.

07/24/2025 Logistics
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