The Maldives accedes to the Revised Kyoto Convention to become the 124th contracting party.
The International Convention on the simplification and harmonization of Customs procedures (as amended), known as the Revised Kyoto Convention is the blueprint for modern and efficient Customs procedures in the 21st century.
The Convention elaborates several key governing principles- chief among these are the principles of:
- transparency and predictability of Customs actions;
- standardization and simplification of the goods declaration and supporting documents;
- simplified procedures for authorized persons;
- maximum use of information technology;
- minimum necessary Customs control to ensure compliance with regulations;
- use of risk management and audit based controls;
- coordinated interventions with other border agencies;
- partnership with the trade.
The revised Kyoto Convention promotes trade facilitation and effective controls through its legal provisions that detail the application of simple yet efficient procedures. The revised Convention also contains new and obligatory rules for its application which all Contracting Parties must accept without reservation.
The revised Kyoto Convention entered into force on February 3, 2006.
Full details are available at the link below:
Source URL: Corporate Maldives