Cross-border trade has always been at the effect of bureaucratic delays and ‘red tape.’ This has necessitated and thereby resulted in the evolution of ‘Trade Facilitation’ for the global trading system. Simply put, Trade Facilitation (TF) is the simplification, modernization, and harmonization of the global import and export processes.
Across the world, Customs administrations are posed with significant technological, economic and legal changes, which necessitate newer approaches to managing administrations. Moreover, recent industry studies point towards the dramatic impact of Trade Facilitation on international commerce – a boost in the global deal to the tune of US$ 1 trillion per year – from improvements in border administration globally.
The landmark Trade Facilitation Agreement (TFA) by the World Trade Organization (WTO), which came into force on 22 February 2017, includes requirements for expediting the movement, release, and clearance of goods, including goods in transit. As per the WTO, Article 10.4 of the WTO TFA calls for the Member States to endeavor to establish or maintain a single window, which enables tradesmen to submit documentation and/or data requirements for importation, exportation, or transit of goods through a single-entry point to the participating authorities or agencies.
Kale Logistics Solutions’ latest offering – next-generation Regulatory Single Windows – is in line with the company’s commitment to facilitate cross-border trade by transforming and integrating the data entry processes in import and export operations and aims to eliminate redundancy and streamline public costs. The Single Window System, powered by Kale Logistics Solutions, enables Digitalization of processes with e-Approvals and significantly minimizes the paper and time needed for import and export transactions.