Saudi Arabia accedes to key WCO trade facilitation instruments

05 mayo 2011

Saudi Arabia accedes to key WCO trade facilitation instruments

5 May 2011

Press Release

On 4 May 2011, the Embassy of the Kingdom of Saudi Arabia deposited their country’s instruments of accession to the International Convention on the Simplification and Harmonization of Customs Procedures (revised Kyoto Convention) and the Convention on Temporary Admission (Istanbul Convention) with the World Customs Organization.

WCO Secretary General, Kunio Mikuriya said, “Accessions to these important Customs instruments are beginning to accelerate as more and more Customs administrations recognize their critical role in managing cross-border trade today.”

The revised Kyoto Convention (RKC) is regarded as a blueprint for effective and modern Customs procedures. Some of its key elements include the application of simplified Customs procedures in a predictable and transparent environment, the maximum use of information technology, the use of risk management, a strong partnership with the trade, and a readily accessible system of appeals.

The Istanbul Convention (IC) is an international instrument that combines all existing conventions on temporary admission. Integral to the Convention is the ATA carnet that is secured by an international guarantee system which allows the free movement of goods across frontiers and their temporary admission into a Customs territory with relief from duties and taxes.

The RKC entered into force on 3 February 2006 and now has 75 Contracting Parties, and the IC which entered into force on 27 November 1993 currently has 60.