World Customs Organization
- The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium
- It has 182 member nations (including India) that manage more than 98% of world trade.
- The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR), drugs enforcement, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization
- The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin
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Daily Current Affairs for IAS UPSC Exam Preparation – Civilsdailyims to cut cargo release time for exports and imports as part of measures to boost goods trade The NTFAP is to be implemented between 2017 and 2020, is part of India’s efforts to improve its ease of doing business ranking
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<span>World Customs Organization
The World Customs Organization (WCO) is an intergovernmental organization headquartered in Brussels, Belgium It has 182 member nations ( including India ) that manage more than 98% of world trade. The WCO is noted for its work in areas covering the development of international conventions, instruments, and tools on topics such as commodity classification, valuation, rules of origin, collection of customs revenue, supply chain security, international trade facilitation, customs enforcement activities, combating counterfeiting in support of Intellectual Property Rights (IPR) , drugs enforcement, illegal weapons trading, integrity promotion, and delivering sustainable capacity building to assist with customs reforms and modernization The WCO maintains the international Harmonized System (HS) goods nomenclature, and administers the technical aspects of the World Trade Organization (WTO) Agreements on Customs Valuation and Rules of Origin
Trade Facilitation Agreement (TFA)
The TFA is the WTO’s first-ever multilateral accord that aims to simplify customs regulations for the cross-border movement of goods. It was out Summary
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