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Where are the awaited amendments related to customs facilitation measures? The draft amendments to the customs law will soon head to the House, a senior government official told EnterpriseAM. The Finance Ministry finalized the amendments over the summer, proposing changes to three customs laws, including 15 amended articles and 3 newly introduced articles.
The big picture: The move aims to improve the efficiency of the unified customs system to facilitate transactions, boost production and investment, and reduce the import bill by cutting costs.
The amendments include: Simplifying import procedures by limiting the amount of documents needed to import products to just the commercial invoice and the advance declaration in an effort to cut down on costs and time ; developing an electronic tracking system that follows shipments until cleared by authorities ; and expanding the risk management system.
Just the tip of the iceberg: We dive deeper into the proposed amendments in our coverage of the story earlier this year. You can check it out here.
More companies to join the AEO? The Madbouly government is also reviewing the prerequisites for companies joining the Authorized Economic Operator program (AEO) in a bid to increase the number of companies part of the program to 500, our source said.
More benefits up for grabs for companies that make it to the orange and blue lists: The government plans to introduce two new lists to accompany the white list, companies that make it to the orange list will have their imports subject to document inspection only, while those part of the blue list will have their imports subject to post-release verification only. .
REMEMBER- A survey is underway to identify companies and customs clients with no prior record of evasion or customs value manipulation to add them to the white list, which currently includes a limited number of entities. The list is expected to expand significantly upon completion of the survey, providing listed entities with the ability to benefit from expedited customs clearance and inspection, which will in turn support local investment.
