Something to DeclareOn Customs Compliance & Trade Facilitation
McKinsey & Company’s seminal study titled “Disruptive technologies: Advances that will transform life, business, and the global economy” listed 12 technologies that could “drive truly massive economic transformations and disruptions in the coming years”. Second from the top, with an estimated economic impact of between $5 trillion and $7 trillion annually by 2025, was the automation of knowledge work.read more
About a year ago, as part of its Community of Practice Series on Trade Facilitation for the Caribbean Region, the Inter-American Development Bank invited me to speak about whether it was possible to reconcile the competing forces of Customs Compliance and Trade Facilitation.
To prove my thesis that current compliance and facilitation initiatives are incompatible, I plotted U.S. customs compliance and trade facilitation initiatives over a graph of duty losses from 2003 to 2014. The results were stark…read more
The WCO Harmonized System Committee (HSC) held its 58th Session from 28 September to 7 October 2016 at the WCO headquarters in Brussels. More than 120 participants representing 65 Contracting Parties to the HS Convention, two WCO Member administration and four international organizations attended.
The HSC took some 50 decisions on the tariff classification of products covered by the whole range of the HS Nomenclature.read more