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Nov 6, 2017

Honest Traders Mean Lower Prices on Shelves

The World Customs Organization and the Government of Sweden are funding a five-day consultative workshop and national training on the National Committees of Trade Facilitation. In February, the World Trade Organization put its first multilateral deal, the Trade Facilitation Agreement, into effect. Implementation of the agreement, according to the W.T.O., is forecast to slash members’ trade costs by an average of fourteen percent, with developing countries having the most to gain. It is likely to reduce the time needed to import goods by over a day and a half and to export goods by almost two days.  In Belize, the Customs Department has already established programs to help traders achieve a successful working relationship, but the conference is aimed at further engaging stakeholders. Deputy Comptroller of Customs Estella Leslie explains what this means for your store shelves.

 

Estella Leslie

Estella Leslie, Deputy Comptroller, Customs and Excise Department

“If you show Customs that you are compliant, you get eighty percent green – that means you get your goods faster, you put it on the shelf quicker, you have more to give to your consumer. Because when Customs is giving you your shipment very quickly, cost is reduced and people will tell you time is money. So if we decrease the time that your container is tied up, then that cost is lessened, so you can give that lower cost to the consumer [and] the consumer benefits.”

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