Small Island Economies: the WCO’s renewed focus
The WCO’s initiative on “Small Island Economies” (SIEs) was launched in June 2018 with the aim of providing the Customs administrations of such economies with tailor-made capacity building and technical assistance that would help them to curb illicit trade and smuggling more effectively, wh...
Challenges they face, in varying degrees, include:
- lack of connectedness to global value chains, which negatively impacts their share of international trade and investment;
- remoteness from large markets, resulting in increased transportation costs;
- high communicatio...