Cabinet approves Yemen's accession to revised Kyoto Convention
The Source: SANA'A/hadhramaut.info/sabanews.net - 18/10/2011
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The Cabinet approved Tuesday Yemen's accession to the revised International Convention on the Simplification and Harmonization of Customs procedures (Kyoto Convention) and its General and Specific annexes.
The cabinet assigned ministers of legal affairs, finance and parliament and shura affairs to finalize the constitutional procedures and submit it to the parliament for approval.
The Kyoto Convention entered into force in 1974 and was revised and updated to ensure that it meets the current demands of governments and international trade. The revised Kyoto Convention entered into force on February 3, 2006.The World Custom Organization (WCO) Council adopted the revised Kyoto Convention in June 1999 as the blueprint for modern and efficient Customs procedures in the 21st century. It provides international commerce with the predictability and efficiency that modern trade requires.The revised Kyoto Convention elaborates several key governing principles, topped by the principles of transparency and predictability of customs actions and standardization and simplification of the goods declaration and supporting documents.It also aims to reach maximum use of information technology, minimum necessary customs control to ensure compliance with regulations, use of risk management and audit based controls, coordinate interventions with other border agencies and create 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. It also contains new and obligatory rules for its application which all Contracting Parties must accept without reservation.
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