Brussels, 11 January 2008
Egypt and Vietnam ratify the revised Kyoto Convention
On 8 January 2008 Egypt and Vietnam acceded to the International Convention on the Simplification and Harmonization of Customs Procedures (revised Kyoto Convention) which is regarded as a blueprint for modern and effective Customs procedures in the 21st Century.
A key element in trade facilitation, the revised Kyoto Convention aims at providing international trade with the predictability, transparency and efficiency that modern trade requires. In adopting the Convention, Customs undertake to implement simplified procedures and apply risk management techniques in order to target high risk consignments whilst guaranteeing the free follow of licit trade. Furthermore the Convention urges Customs to make maximum use of IT and to provide an appropriate system for consultation with the private sector.
With efficient Customs procedures, States can influence and significantly advance economic competition and social well-being by promoting trade and investment in a safer trading environment. Trade can but benefit from the harmonisation and simplification of Customs procedures which ensure that goods move more rapidly and at lower cost.
The revised Kyoto Convention which entered into force on 3 February 2006 now has 56 Contracting Parties.