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FRCA: Electronic Trade Improves

Cross Border paperless trade will increase efficiency, compliance and risk management in the future. Fiji Revenue and Customs Authority chief executive officer Visvanath Das said with an increase in our
25 Jun 2017 16:35
FRCA:  Electronic  Trade  Improves
Fiji Revenue and Customs Authority chief executive officer Visvanath Das

Cross Border paperless trade will increase efficiency, compliance and risk management in the future.

Fiji Revenue and Customs Authority chief executive officer Visvanath Das said with an increase in our volume of trade, Fiji is bound to benefit.

On Friday Fiji border stakeholders engaged in a one-day National Consultation workshop on Cross

Border paperless trade facilitation workshop in Suva.

 

What is Cross border paperless trade?

It is trade based on electronic communications, including exchange of trade related to data and documents in electronic form across borders.

United Nations ESCAP representative from Thailand, Mr. Yann Duval from the Trade Facilitation Unit, Trade Investment and Innovation Division office conducted the workshop in collaboration with FRCA.

“I am glad that we are hosting this consultation here today and that Fiji and the region is making significant progress towards a framework agreement,” Mr Das said.

Fiji had ratified the World Trade Organization Trade Facilitation Agreement (TFA).

As key components of the country’s economy, FRCA will now implement the TFA.

“The electronic trade treaty will focus on implementing digital trade facilitation measures to specifically achieve paperless trade across our borders and that it will also support the World Trade Organisation Trade Facilitation Agreement.

“Furthermore, it is also expected to harmonize the growing number of bilateral and sub-regional paperless trade initiatives in the region,” said Mr Das.

United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) representative Yann Duval conducted the workshop in collaboration with the Fiji Revenue and Customs Authority (FRCA).

Mr Duval is from the Trade Facilitation Unit, Trade Investment and Innovation Division office in Thailand.

He said there is a need for motivated countries to work together to design legal solutions based on international standards, individual data models and trade facilitation agreement.

He added that Cross Border paperless trade data used by exports and imports parties will increase compliance and easy to detect risk.

 

The key benefit:

Fiji can grow its exports and reduce the transaction time and cost of trade.

“We look forward to contribute to this new framework under the United Nations  ESCAP as it ties in well with our plans for the future sustainability of FRCA and certainly for Fiji’s trade competitiveness and economic growth.

“Not to mention the benefits to our private sector in terms of improved levels of compliance to regulatory requirements in international trade.

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