Articles under "#data exchange" category

Issue: WCO News 94 February 2021

Digitization of ATA Carnets: overview of the ICC pilot project

The ATA[1] Carnet is an international Customs document that permits duty-free and tax-free temporary admission of most goods for up to one year. It enables countries, businesses and border agencies to expedite the Customs process by utilizing unified, ready-to...

Going digital

The ATA Carnet is still today a paper-based document, although its digitization (turning the physical paper into an electronic file) and the digitalization o...

Issue: WCO News 94 February 2021

How digital tools can improve compliance with SPS measures

Given increasing concerns about food security and food safety and the need to fight hunger and eliminate food waste, a review of the current processes for implementation of the World Trade Organization (WTO) Sanitary and Phytosanitary Agreement and adoption of ...

Many importing countries require a Sanitary/Phytosanitary Certificate which is an official document issued by a competent authority of the exporting country to the exporter. It certifies that the animals or plants, and their derived products, covered by the Certificate have been inspected and are...

Issue: WCO News 94 February 2021
TradeTrust: accelerating the digitalization of international trade

Singapore is spearheading the implementation of TradeTrust, which is a framework comprised of a set of globally accepted standards to facilitate the digitalization of documents used in international trade and logistics and their interoperability, and also a set of ...

For example, the Bill of Lading (BL)[1] is still provided in hardcopy in many countries, creating inefficiencies. It requires time and money to courier the BL document to destination ports of discharge, plus there are risks of the BL getting lost in transit, w...

Issue: WCO News 94 February 2021
Improving data sharing with blockchain

Towards a digital transformation

COVID-19 has put immense pressure on traders and supply-chain managers and has highlighted the need for more traceability and visibility in trade transactions, and for more interoperability in IT systems,...

How it works

As soon as a company AEO certification is approved, a Customs officer in country A uploads information on that company to CADENA. The applicati...

Issue: WCO News 93 October 2020
Maqta Gateway: Digitizing and transforming trade

Abu Dhabi is leading the region’s digital transformation drive with a view to moving all of the emirate’s trade online during 2021

Although the maritime transport industry handles 90%[1] of global trad...

Five years on, and after spending so long behind the technology curve, many of the world’s leading maritime players are now embracing a bold new era of digital innovation, and none more so than in the Arabian Peninsula, ...

Issue: WCO News 91 February 2020
Customs partners with express carriers to fight illicit trade in Hong Kong

Hong Kong Customs’ enforcement strategy is multi-pronged. The administration attaches equal importance to developing efficient enforcement tactics, educating the public and engaging with it, maintaining close collaboration with its overseas enforcement counterpar...

Memoranda of Understanding

After some discussions, in March 2015, Hong Kong Customs signed Memoranda of Understanding (MOUs) with five major express courier operators, namely DHL Express (Hong Kong) Limited, Federal Expre...

Issue: WCO News 92 June 2020
Leaning forward: Singapore leverages digital data to help financial institutions augment trade finance compliance

Singapore Customs launched a Trade Finance Compliance Service on the country’s Networked Trade Platform to augment trade finance compliance efforts against money laundering and terrorist financing.

Banks and financial institutions offer multiple sol...

Trade finance and trade-based money laundering

As part of their money laundering related monitoring and reporting obligations, banks and other financial institutions have to assess whether these trade transactions are leg...