This is an AI generated summary. There may be inaccuracies.
Summarize another video · Purchase summarize.tech Premium
The World Customs Organization (WCO) aims to simplify and harmonize customs procedures to facilitate trade, protect society, and collect customs and taxes associated with international trade. The WCO's mandate has expanded significantly since its inception, which includes maintaining the Harmonized System, allowing for the standardization of how products are classified and valued. The importance of collaboration among customs agencies, and the implementation of automated information exchange systems, is emphasized. The WCO's strategic plan focuses on economic competitiveness, efficient revenue collection, societal protection, and organizational development. Compliance and enforcement are the second pillar of customs, with the use of technology, joint operations, and partnerships with the private sector and other agencies to help with enforcement efforts. The speaker highlights the importance of public-private partnerships in creating competitive and effective customs practices and generating trust and open communication between both sectors.
Copyright © 2024 Summarize, LLC. All rights reserved. · Terms of Service · Privacy Policy · As an Amazon Associate, summarize.tech earns from qualifying purchases.