Economy, Business And Markets

Customs Cooperation With UNCTAD

Customs Cooperation With UNCTADCustoms Cooperation With UNCTAD

The United Nations Conference on Trade and Development is ready to exchange customs information with Iran’s Single-Window System for International Trade, said regional coordinator of the UNCTAD’s Automated System for Customs Data, Nicolae Popa.

The Single-Window System is a trade facilitation mechanism, which enables international traders to submit regulatory documents at a single location or single entity, IRNA reported.

Popa, who was accompanied by a delegation of UNCTAD representatives, made the remarks in a meeting with head of Iran Customs Administration, Masoud Karbasian, in Tehran on Sunday.

He praised the system as “well-designed and in conformity with international standards.”

The Single-Window System became operational in Iran in October 2014 with the aim of computerizing import and export customs clearance and online issuance of trade certificates.

The system reduced the time involved in customs processes from 26 days to three days, lowered import-related costs by $80 billion per year and added 130% to ICA’s revenues.

Popa also said UNCTAD will offer a proposal for upgrading Iran’s integrated online system with the help of the World Bank.

UNCTAD, based in Geneva, is the principal organ of the United Nations General Assembly dealing with trade, investment and development issues.

The organization’s goals are to “maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis.”