Bangladesh Customs Boosts Trade Efficiency with Wcobacked TRS Strategy

Bangladesh Customs Boosts Trade Efficiency with Wcobacked TRS Strategy

The WCO's GTFP assists the NBR in Bangladesh to optimize trade processes and improve efficiency. Through Time Release Studies (TRS) and workshops, it enhances transparency and risk management, fostering economic development. The TRS identifies bottlenecks and areas for improvement in customs procedures. By streamlining these processes, the GTFP contributes to faster clearance times, reduced costs for businesses, and increased trade competitiveness for Bangladesh. The focus on data-driven analysis and collaborative problem-solving ensures sustainable and impactful reforms.

02/03/2026 Customs Knowledge
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Wcos AI Project Simplifies HS Code Classification for Trade

Wcos AI Project Simplifies HS Code Classification for Trade

The WCO's BACUDA project utilizes AI to recommend HS codes. By learning from historical data, it aims to improve the efficiency of commodity classification, reduce misclassification errors, and facilitate trade. The AI system analyzes product descriptions and characteristics to suggest the most appropriate HS code, streamlining the classification process and potentially lowering the risk of customs delays or penalties. This innovative application of AI promises significant benefits for both customs administrations and businesses involved in international trade.

02/05/2026 HS Code Query
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Peru Boosts Customs Oversight with Global Partnerships

Peru Boosts Customs Oversight with Global Partnerships

Peru Customs, with support from the SECO-WCO Global Trade Facilitation Programme, held a virtual forum focusing on optimizing customs valuation risk management. Participating countries shared experiences and discussed database construction, value verification processes, and private sector engagement. Based on this, Peru Customs developed an action plan to strengthen value verification and deepen cooperation with the private sector. The World Customs Organization will continue to provide support to enhance transparency and predictability in cross-border trade.

02/05/2026 Customs Knowledge
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Global Trade Risks Eased by Marine Insurance Coverage

Global Trade Risks Eased by Marine Insurance Coverage

Marine insurance is a vital risk management tool in international trade, effectively addressing natural disasters, accidents, and human-caused risks during sea transport. By providing financial compensation, stabilizing operating costs, and enhancing corporate reputation, marine insurance safeguards businesses' global trading activities. It offers economic protection against cargo loss or damage, ensuring business continuity and mitigating potential financial losses from unforeseen events. It is an essential guarantee for the sound development of enterprises involved in international trade.

02/06/2026 Logistics Encyclopedia
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WCO Promotes Data Analytics for Smarter Customs and Trade Growth

WCO Promotes Data Analytics for Smarter Customs and Trade Growth

The World Customs Organization (WCO) holds data analysis workshops to promote its application in customs and enhance management effectiveness. Through data analysis, customs can achieve goals like risk management, trade compliance, trade facilitation, and revenue collection, ultimately realizing digital transformation and building smart customs. Facing challenges in data quality, security, talent, and technology, customs must actively embrace data analysis and serve national economic development. This includes leveraging data to improve efficiency and effectiveness in various customs operations.

01/07/2026 Customs Knowledge
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WCO Backs Ugandas Trade Reforms to Boost Economy

WCO Backs Ugandas Trade Reforms to Boost Economy

The WCO assisted Uganda in implementing the WTO Trade Facilitation Agreement, enhancing customs capabilities. This support focused on optimizing strategic planning, the Authorized Economic Operator (AEO) program, and risk management. A multi-year development plan was also formulated to guide Uganda Customs in its modernization efforts, streamlining processes and improving efficiency in line with international standards. The collaboration aims to facilitate trade and boost economic growth in Uganda through enhanced customs procedures and improved border management.

01/22/2026 Customs Knowledge
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CH Robinson Unveils Aidriven Supply Chain for Smarter Logistics

CH Robinson Unveils Aidriven Supply Chain for Smarter Logistics

C.H. Robinson introduces an AI-powered Agentic Supply Chain, enhancing supply chain efficiency and resilience. This innovative approach leverages artificial intelligence to optimize various aspects of the supply chain, from planning and execution to monitoring and risk management. Simultaneously, US ports are upgrading their infrastructure to accommodate shifting trade patterns. These upgrades aim to improve capacity, reduce congestion, and ensure the smooth flow of goods, reflecting a proactive response to evolving global trade dynamics and increasing supply chain demands.

01/28/2026 Logistics
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New HS Code and Tax Rules for Difluorochloropropane Take Effect

New HS Code and Tax Rules for Difluorochloropropane Take Effect

This article presents the coding information and tax rate details of dichlorofluoropropane (HS Code 2903491051), analyzing its significance in international trade. It highlights that there are no applicable tax rate regulations for this commodity in both export and import scenarios, providing compliance and risk management references for import and export enterprises.

08/08/2025 HS Code Query
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Ivory Coast Boosts Green Trade Compliance Amid Border Challenges

Ivory Coast Boosts Green Trade Compliance Amid Border Challenges

Côte d'Ivoire Customs is committed to environmentally compliant cross-border trade through laws, regulations, institutional cooperation, and risk management. Facing challenges such as inadequate information systems and administrative burdens, future plans include strengthening partnerships, digitalizing communication, and utilizing advance cargo information. This provides a valuable reference for other developing countries.

02/06/2026 Customs Knowledge
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Exporters Urged to Vet Freight Forwarders to Reduce Trade Risks

Exporters Urged to Vet Freight Forwarders to Reduce Trade Risks

This paper delves into the concept of 'designated forwarder' in international trade, explaining its relationship with trade terms like FOB and EXW. It reveals potential risks and offers coping strategies for exporters. The importance of negotiating trade terms including freight, understanding the designated forwarder's background, and clarifying cost terms are emphasized. The advantages of independently choosing a forwarder are also highlighted. This aims to help exporting companies mitigate risks and gain control in international trade, ultimately empowering them to navigate the complexities of designated forwarder arrangements effectively.

09/26/2025 Logistics Encyclopedia
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