RIYAD BANK has announced its new SWIFT/BIC code RIBLSARISSD, aimed at enhancing the efficiency of international remittances. This update not only provides a more effective communication channel for global customers but also further ensures the security of transactions, promoting international economic cooperation.
The Secretary General of the World Customs Organization emphasized at the Asian Development Bank Institute Annual Conference that global supply chains face multiple challenges including digitalization, data standardization, disruptive technologies, e-commerce development, environmental issues, and border conflicts. Customs plays a crucial role in enhancing supply chain resilience by strengthening risk management, simplifying customs clearance, fostering international cooperation, applying technology, and building personnel capacity. Enhanced cooperation among border agencies is essential to jointly maintain trade security and facilitation.
The World Customs Organization (WCO) and the Swiss State Secretariat for Economic Affairs (SECO) have agreed to a no-cost extension of one year for the Global Trade Facilitation Programme (GTFP). Launched in 2018, the GTFP has benefited numerous countries by significantly improving customs management and trade facilitation through capacity building, institutional reforms, cooperation promotion, and technological innovation. This has injected new momentum into global trade development.
The WCO supports landlocked developing countries (LLDCs) in integrating into global trade by simplifying transit procedures and reducing costs. Global transit conferences and WCO guidelines aim to build efficient and interconnected trade networks to promote development. These initiatives focus on streamlining customs processes, enhancing cooperation between transit countries, and improving infrastructure to facilitate the smooth and cost-effective movement of goods. Ultimately, the WCO's efforts contribute to the economic growth and diversification of LLDCs by connecting them to global markets.
Turkey hosted its first International Customs Trade Conference, where the Secretary-General of the World Customs Organization emphasized Turkey's importance as a global supply chain hub. He called for strengthened customs and trade cooperation to facilitate post-pandemic economic recovery. Turkey is committed to customs modernization and enhanced international collaboration to address global trade challenges and promote economic development. The conference highlighted the need for streamlined processes and innovative solutions to ensure efficient and secure trade flows in a rapidly changing global landscape.
The 2012 Singapore Joint Conference united global efforts, focusing on aviation security and facilitation. The conference emphasized international cooperation, standardization, information sharing, and technology application, aiming to enhance global aviation security levels. The joint communiqué issued by ICAO and WCO pointed the way for future development, collectively building a safer and more efficient global air transport system. The discussions highlighted the importance of a coordinated approach to address emerging threats and promote seamless trade while maintaining the highest security standards.
The 5th Global Congress on Combating Counterfeiting and Piracy convened in Cancun, Mexico, urging the international community to intensify efforts against counterfeit goods, which pose a threat to global economic recovery. The conference highlighted the increasing trade in counterfeit products and its detrimental impact on economies and employment. Discussions focused on strategies including strengthening international cooperation, improving legislation, and raising public awareness. WIPO will host the next congress, with all parties committing to collaborative action to combat this global issue.
The UN Secretary-General met with the Secretary-General of the World Customs Organization, agreeing to strengthen cooperation in addressing global challenges and promoting global economic recovery. Key areas of collaboration include vaccine distribution, combating cross-border crime, facilitating trade, and supporting Sustainable Development Goals. Both parties will enhance information sharing, technological innovation, and capacity building, working towards a safer, more prosperous, and sustainable world. This partnership aims to leverage customs expertise in areas crucial for global stability and economic growth.
The World Customs Organization (WCO) Professional Development Programme aims to cultivate customs talent and promote international cooperation. The 2011/2012 project review highlights its objectives, participants, achievements, and impact, emphasizing the importance of knowledge sharing, capacity building, and trade facilitation. The article also looks forward to the future development direction of the program, calling for jointly building a new chapter in global customs cooperation. It underscores the program's role in fostering a collaborative environment and enhancing the effectiveness of customs administrations worldwide.
The trade agreement signed by the Trump administration raises tariff levels, making the Trans-Pacific trade environment more uncertain, which adds pressure on global businesses and economic cooperation. Companies face risks of rising costs, making it increasingly important to seek alternative solutions to navigate the uncertainty.
