What is RKC in Customs?
The revised Kyoto Convention (RKC) is the main trade facilitation Customs convention. It was developed by the World Customs Organization and entered into force on 3 February 2006. The RKC aims at facilitating trade by harmonizing and simplifying Customs procedures and practices.
How many member countries are there in the WCO?
183 Members
WCO 183 Members, three-quarters of which are developing countries, are responsible for managing more than 98% of world trade.
What does the WCO do?
The WCO promotes certainty, predictability and security of the international movement of goods and people accompanying goods by establishing clear and precise standards, e.g. the WCO SAFE Framework of Standards to Secure and Facilitate Global Trade.
What is the importance of the revised Kyoto Convention to Philippines Customs clearance procedures?
The Revised Kyoto Convention is widely regarded as the blueprint for modern and efficient Customs procedures in the 21st century. If implemented, it will provide international commerce with predictability and efficiency required by modern trade.
What do you think are the benefits that the Philippines received as a member of WCO?
The Philippines will also become the first country in SE Asia to benefit from use of the WCO Cargo Targeting System which allows detailed analysis of pre-arrival information to target consignments likely to contain illicit goods as well as assist to speed clearance and facilitate licit trade.
What is WCO Safe Framework?
In June 2005 the WCO Council adopted the SAFE Framework of Standards to Secure and Facilitate Global Trade (SAFE Framework) that would act as a deterrent to international terrorism, to secure revenue collections and to promote trade facilitation worldwide.
When did Nepal get the membership of WCO?
Nepal has been a member of WTO since 23 April 2004.
How does WCO affect international trade?
The WCO provides Customs administrations with adequate instruments to ensure that legitimate trade is facilitated and that there is a seamless flow of passengers and conveyances but at the same time, Customs need to protect the frontiers against a plethora of safety, security and biosecurity threats including terrorism …
Does joining revised Kyoto Convention affect our economy?
According to existing literature and evidence, substantial benefits are achievable when the RKC is implemented. These may include faster release of goods at borders and lower trade costs, increased revenue, and more FDI and economic competitiveness.
What body manages the revised Kyoto Convention?
The revised Kyoto Convention entered into force on February 3, 2006. The full text of the body of the Convention, the General Annex and Specific Annexes relating to specific Customs procedures and practices are available through the links below.
When was the RKC adopted by the WCO?
Contracting Parties may accept one or more of the Specific Annexes as well as submit reservations to Recommended Practices to the WCO. It is now 20 years since the adoption of the current RKC by the WCO Council in 1999.
What are the three parts of the RKC?
The RKC consists of three parts: the text, a General Annex with ten Chapters, and ten Specific Annexes. The entire General Annex is binding on Contracting Parties and no reservations are possible with respect to its implementation.
How is the wgrkc related to the RKC?
The 37 broad concepts were classified within the existing structure of the RKC: Body, General Annex, and Specific Annexes (see Figure 4). The WGRKC has developed a four-track maturity methodology, as illustrated in Box 2, for reviewing and adjudicating proposals submitted by Members and external stakeholders.
What was the purpose of the RKC review?
During the RKC review process, several underlying principles and issues were identified by the Members, including in particular: the renewed importance of promoting modern and efficient Customs procedures to both facilitate legitimate trade and ensure security;