The WCO held a customs valuation workshop in Rwanda to enhance the capabilities of tax authority officials. The workshop covered topics such as the WTO Valuation Agreement and transfer pricing. The initiative aims to promote trade development by improving understanding and application of customs valuation principles, ultimately facilitating smoother and more efficient trade processes for Rwanda.
Georgia has officially joined the Revised Kyoto Convention, becoming its 116th contracting party, marking a significant step in its trade facilitation efforts. The Convention, considered the "gold standard" for global trade facilitation, promotes international trade development through simplified customs procedures and increased transparency. The World Customs Organization encourages more countries to join, working together to build an open and efficient global trade system. This accession highlights Georgia's commitment to streamlining trade processes and fostering economic growth through adherence to international standards.
The World Customs Organization (WCO) highlighted the transformative impact of digital technologies on customs at the Global Trade Conference, emphasizing the WCO Framework of Standards on Cross-Border E-Commerce, big data, and blockchain applications. Acknowledging challenges such as technology integration and data standardization, the WCO is committed to building an intelligent, secure, and efficient global trade ecosystem, driving the digital transformation of customs worldwide. It aims to facilitate trade while ensuring security and compliance through innovative digital solutions.
The WCO conducted a leadership workshop for Mongolian Customs, aiming to enhance the capabilities of senior executives and drive reform. Participants provided positive feedback, indicating improvements in management communication. The workshop focused on developing strategic thinking, decision-making, and team management skills crucial for leading the modernization of customs procedures and fostering a more efficient and effective organization. The training is expected to contribute significantly to the ongoing efforts to streamline trade facilitation and strengthen border security in Mongolia.
The World Customs Organization (WCO) supports Jordan Customs in enhancing its project management capabilities. Through workshops and other initiatives, the WCO assists in building a project management framework, adopting results-oriented management, and emphasizing the role of the Project Management Office (PMO). This action aims to help Jordan Customs more effectively implement strategic projects, improve efficiency and productivity, and ultimately achieve customs modernization. The focus is on building internal capacity to manage projects effectively and achieve strategic goals.
The World Customs Organization held its first regional workshop on data analysis in Doha, Qatar. The aim was to enhance data analysis capabilities of customs administrations in the Middle East and North Africa (MENA) region and explore its applications in customs management. The workshop shared best practices and laid the groundwork for developing data analysis strategies in the MENA region. This initiative seeks to improve customs efficiency, promote trade security, and foster economic development by leveraging data-driven insights.
The National Electrical Manufacturers Association (NEMA) urges the United States Trade Representative (USTR) to expedite the review and update of the United States-Mexico-Canada Agreement (USMCA). NEMA emphasizes the need for strengthened enforcement and increased predictability in trade rules to safeguard the competitiveness of the American electrical manufacturing industry and protect consumer interests. They believe a robust USMCA is crucial for maintaining a level playing field and ensuring fair trade practices within the North American region, ultimately benefiting both manufacturers and consumers.
The National Electrical Manufacturers Association (NEMA) urged a swift review and update of the USMCA at a USTR hearing. NEMA emphasized the importance of strengthened enforcement and enhanced predictability in trade policy. They believe a stable and predictable trade environment encourages investment, fosters technological advancement, and drives job growth. NEMA also called for stronger intellectual property protection, the establishment of efficient dispute resolution mechanisms, and regular assessments of USMCA implementation effectiveness. These measures are crucial for maximizing the agreement's benefits and ensuring a level playing field for American manufacturers.
The National Electrical Manufacturers Association (NEMA) is urging the United States Trade Representative (USTR) to promptly review and update the USMCA agreement. NEMA emphasizes the importance of strengthening enforcement and enhancing the predictability of the agreement to ensure a level playing field for the U.S. electrical manufacturing sector. They believe that robust enforcement will foster investment and job creation within the industry. NEMA's call underscores the need for a modernized USMCA that effectively addresses trade barriers and promotes fair competition.
Foley & Lardner partner Greg Husisian discusses key trade and tariff issues, advising companies to strengthen compliance and diversify their supply chains to navigate the complex international trade environment. He emphasizes the importance of understanding and adapting to evolving tariff policies and proactively mitigating risks related to trade fraud. Businesses should prioritize robust compliance programs and explore alternative sourcing options to minimize disruption and maintain competitiveness in the global market. Staying informed and agile is crucial for success in the face of increasing international trade complexity.
