The Technical Committee on Customs Valuation (TCCV) held its landmark 60th Session at the World Customs Organization (WCO) Headquarters, adopting three pivotal instruments to address critical challenges in Customs valuation. Held from April 7 to 11, the session was Chaired by Qianyu Lin of China. It brought together 53 delegations and marked a significant step toward harmonizing global Customs valuation practices.

The new instruments adopted include two new case studies on transfer pricing and an advisory opinion on the valuation treatment applicable to cases of non-payment by the buyer.

These instruments aim to streamline Customs processes by offering solutions to complex trade scenarios, thereby facilitating the uniform interpretation and implementation of the principles outlined in the WTO Customs Valuation Agreement.

The session also featured a special panel discussion commemorating 30 years of the Technical Committee. The panel reflected on the implementation of the WTO Customs Valuation Agreement and the TCCV's contributions in this regard. Celebrating past achievements while looking ahead to future expectations, the discussion brought together distinguished representatives from the International Chamber of Commerce (ICC), the World Trade Organization (WTO), as well as current and former TCCV Chairpersons.

Prior to the in-person meeting, a three-week online discussion phase was held on the WCO CLiKC! Platform, allowing delegates to exchange views on specific technical questions and laying a solid foundation for the subsequent discussions.

During the 60th Session, the Technical Committee addressed ten specific technical questions related to emerging challenges in Customs valuation, including transfer pricing and e-commerce. Additionally, the Committee agreed to include one new question submitted by Member administrations on the agenda for its next session.

The three newly adopted instruments will be submitted for approval to the WCO Council during its June 2025 sessions.