international trade payment News

WCO Launches Datadriven Customs Portal to Modernize Trade

The World Customs Organization (WCO)'s Smart Customs Project is fostering global customs cooperation and innovation through an agilely developed community portal. This portal serves as a project information hub, a secure collaboration space, and a platform for exchanging experiences. It gathers technical application guidelines and research findings to help customs administrations address challenges and promote trade facilitation. The active participation of national contact points is crucial for the project's success. The portal aims to be a central point for accessing resources and engaging with the Smart Customs initiative.

02/03/2026 Customs Knowledge

West Africa Launches Etransit System to Enhance Trade

With the support of the World Customs Organization, five West African countries have launched an electronic transit information project. This initiative aims to improve the efficiency of regional trade and facilitate economic integration within the region. By streamlining customs procedures and enhancing data exchange, the project seeks to reduce transit times and lower trade costs, ultimately boosting economic growth and strengthening regional partnerships. This collaborative effort underscores the commitment of these nations to fostering a more integrated and prosperous West African trade environment.

02/03/2026 Customs Knowledge

WTO Stresses Trade Facilitation to Boost Global Commerce

During the 10th WTO Ministerial Conference, the World Customs Organization and the Kenya Revenue Authority co-hosted a side event focusing on trade facilitation. The event highlighted the importance of coordinated border management, Authorized Economic Operator programs, Time Release Studies, and National Trade Facilitation Committees. It aimed to promote the participation of SMEs and women in global value chains. Participants called for collaborative efforts to overcome challenges and continuously advance trade facilitation, ultimately fostering global trade prosperity. This includes simplifying procedures and harmonizing standards to reduce costs and delays for businesses.

02/03/2026 Customs Knowledge

Moldova Boosts Trade Compliance with Wcobacked Customs Upgrades

The World Customs Organization (WCO) held a Customs Valuation Workshop in Moldova, aiming to enhance the understanding and application of the WTO Valuation Agreement among Moldovan customs officials. The workshop focused on strengthening the role of valuation databases in risk assessment, standardizing valuation procedures, and addressing challenging issues such as the valuation of second-hand goods, the determination of assistance costs, and license fees. This initiative contributes to trade facilitation and economic development by improving customs valuation practices in Moldova.

02/03/2026 Customs Knowledge

Uschina Trade Talks Resume Amid Ecommerce Tariff Concerns

With the restart of US-China tariff negotiations, cross-border e-commerce sellers face new opportunities and challenges. This paper analyzes the negotiation background and key milestones, proposing diversification and refined operations as solutions. It emphasizes the crucial role of cross-border e-commerce ERP systems in navigating trade uncertainties, helping sellers build a resilient business model. By leveraging ERP, sellers can optimize processes, manage inventory effectively, and adapt to changing market conditions, ultimately mitigating risks associated with tariff fluctuations and ensuring sustainable growth in the global market.

02/03/2026 Customs Knowledge

Uschina Trade Tensions Open Doors for Crossborder Ecommerce

This paper analyzes US import data from China in 2024, revealing opportunities in sectors with high dependency, consumer electronics, entertainment products, and small commodities. It suggests cross-border e-commerce sellers focus on niche markets, differentiate product selection, and maintain flexibility to adapt to the uncertainties of US-China trade relations. By focusing on specific data points and adapting strategies, sellers can navigate the complex landscape and capitalize on potential growth areas despite ongoing trade tensions.