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.
To help developing countries fully leverage the potential of the WTO's Trade Facilitation Agreement (TFA), multiple international organizations and development partners reaffirmed their commitment to providing comprehensive and coordinated support. This includes technical assistance, capacity building, and financial support aimed at streamlining trade procedures, reducing trade costs, and improving trade efficiency. The ultimate goal is to promote fairness and prosperity in the global economy by enabling smoother and more accessible trade processes for all nations.
The Regional Office for Capacity Building Asia Pacific (ROCB A/P), with strong support from regional members like Hong Kong Customs, is dedicated to providing high-quality capacity building support to customs administrations in the Asia-Pacific region. The renewed dispatch of technical experts by Hong Kong Customs demonstrates its long-term commitment to regional capacity building. ROCB A/P will continue to play a vital role in facilitating regional trade development, ensuring trade security, and enhancing customs management capabilities.
WCO held a workshop in Namibia to support its implementation of the WTO's Trade Facilitation Agreement and enhance its National Committee on Trade Facilitation (NCTF) capabilities. The workshop emphasized the importance of stakeholder engagement and leveraging international best practices to promote trade facilitation. It aimed to provide Namibia with the necessary tools and knowledge to streamline its trade processes, reduce costs, and improve efficiency, ultimately boosting its economic competitiveness.
The World Customs Organization (WCO), in collaboration with Saudi ZATCA, organized a Harmonized System (HS) expert pre-certification workshop for the Middle East and North Africa region. This initiative aims to cultivate local experts, enhance regional customs capacity, and facilitate trade. Through a rigorous assessment and certification process, the WCO will expand its pool of experts, support regional capacity building efforts, and promote the standardization of global trade practices. The workshop is a key step in strengthening regional customs expertise and streamlining trade processes.
The SECO-WCO Global Trade Facilitation Programme (GTFP) supported Bolivia in conducting a Time Release Study (TRS) to improve trade efficiency and comply with the WTO Trade Facilitation Agreement. Through expert guidance, questionnaire optimization, and pilot testing, the GTFP helped Bolivia identify bottlenecks in goods release and optimize operational procedures. This support contributes to trade facilitation and economic development by streamlining processes and improving efficiency within Bolivia's trade system. The TRS provides valuable insights for further improvements.
The World Customs Organization and the World Trade Organization signed a Memorandum of Understanding to strengthen cooperation on customs-related matters and enhance global trade efficiency and security. The two organizations will collaborate on technical assistance, information sharing, and combating illicit trade, with a focus on the implementation of the Trade Facilitation Agreement and the application of coordination mechanisms. This partnership aims to address global trade challenges and promote sustainable development by fostering streamlined customs procedures and improved international collaboration in trade-related areas.
The World Customs Organization (WCO) has updated its 'Implementation Guidance on Trade Facilitation,' integrating the latest tools and member practices to enhance the implementation of the WTO's Trade Facilitation Agreement (TFA). The new guidance covers areas such as transparency, customs-business cooperation, advance rulings, Authorized Economic Operator (AEO), border management, single window, customs brokers, transit, Globally Networked Customs, and National Trade Facilitation Committees. It provides more practical and comprehensive guidance for global trade facilitation, aiming to streamline processes and reduce trade costs.
With Tunisia's accession, the Revised Kyoto Convention now has 112 contracting parties, signaling accelerated global trade facilitation. This convention, a blueprint for modern customs, aims to reduce trade costs and improve customs clearance efficiency by simplifying procedures, optimizing risk management, and utilizing information technology. It promotes global trade growth and complements the WTO's Trade Facilitation Agreement, jointly building an open and prosperous trade system. The convention's focus on streamlined processes and technological advancements is crucial for enhancing customs efficiency worldwide.
Papua New Guinea's accession to the Revised Kyoto Convention and the Harmonized System Convention marks a significant step towards integrating into the global trade system. This move aims to simplify customs procedures, adopt international standards, and enhance trade efficiency and competitiveness. It also synergizes with the WTO Trade Facilitation Agreement, promoting global trade facilitation. By aligning with these conventions, Papua New Guinea demonstrates its commitment to streamlined customs processes and improved trade practices, ultimately fostering economic growth and international cooperation.
