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System ‘to improve’ trading

BEA DOTTIN, [email protected]

System ‘to improve’ trading

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Barbados?is moving towards clearing up its image when it comes to doing business here.
By next year, importers and exporters will find it much easier to transact business with the implementation of the Automated System for Customs Data (ASYCUDA), customs software which will eliminate a lot of the paperwork, tediousness and time now associated with conducting business.
At the official launch of the system at the Lloyd Erskine Sandiford Centre yesterday, Minister of Finance Chris Sinckler told the audience of stakeholders, which included business and public sector executives, that from next February 15, all importers, exporters or their agents would be able to submit a single administrative document, along with supporting documentation for the processing of imported or exported goods, from the comfort of their homes or businesses with Internet connection.
“It will allow us to streamline and simplify supply-chain processes from the point of importation to customs clearance to final importers ad consumers,”?he said of ASYCUDA. “Specific benefits include a reduction in the cost and time to do business, better governance, the promotion of e-commerce and e-government, creating a paperless environment, improved risk management, increased revenue collection and superior levels of Government and private sector efficiency and productivity.”
The minister said this system should significantly improve Barbados’ track record in trading, given its poor ranking profile. (MB)