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Customs authorities in Grenada have signed a Memorandum of Understanding (MoU) to encourage greater cooperation on the administration of the territory's tariffs under the ASYCUDA (Automated System for Customs Data).
The ASYCUDA system is a computerized customs management system developed by the United Nations Conference on Trade and Development (UNTCAD), which covers most foreign trade procedures. In particular, the system handles manifests and customs declarations, accounting procedures, transit and suspense procedures to support territories in the assessment and collection of customs duties. It also speeds up the customs process by allowing manifests to be send digitally in advance of arrival.
The Memorandum of Understanding (MOU) was signed between the Customs Division and the Bureau of Standards. It seeks to provide a framework for both agencies to work together cohesively and avoid duplication of effort in this area.
Grenada said that the upgrade to ASYCUDA opened the way for a number of improvements in trade facilitation efforts and continues to benefit traders. The Government said the platform will improve the country's investment climate.
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