Palestinian economy set to benefit from new online customs system
Source: BI-ME , Author: BI-ME staff
Posted: Tue August 11, 2009 6:42 pm

Palestinian Territories. International businesses based in the West Bank are set to benefit from a state of the art web-based system for tracking goods coming in and out of the area, launched today by Palestinian customs in partnership with the United Nations Conference on Trade and Development.

The online system, known as ASYCUDA WORLD, will speed up transactions and lower costs for Palestinian exporters and importers, according to a news release issued by UNCTAD.

Palestinian customs clearance agents and private trading companies will be able to process customs declarations and related documents electronically from their own premises without having to visit customs offices.

UNCTAD said that the new software, the final stage in upgrading Palestinian customs' computerized system, is also expected to improve the customs authority's risk management and post-auditing processes, reduce fraud and smuggling, provide better data to inform public policy and increase customs and tax revenues.

The launch ceremony - sponsored by Salam Fayyad, Palestinian Authority Prime Minster and Minister of Finance - was held in Ramallah, and attended by representatives from the European Commission (EC) and UNCTAD, the main partners for the Palestinian customs modernization programme

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: November 26, 2014
UAE. "In the final months of 2014, we expect further increases in occupancy rates, with the pleasant weather attracting more tourists, alongside the seasonal increase in events and conferences."
date:Posted: November 25, 2014
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
date:Posted: November 25, 2014
BAHRAIN. The "increasingly deregulated and competitive economic environment is facilitating rapid growth in business development within the private sector."
UAE. An advisory body to the UAE government has suggested that the central bank review the country's currency peg to the U.S. dollar, but local bankers said any change to the peg remained very unlikely for the foreseeable future.
dhgate