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MAERSK COULD USE 15-20% OF ALTERNATIVE FUELS BY 2030
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UNCTAD: HOW NATIONAL ELECTRONIC SINGLE WINDOWS IMPROVE EFFICIENCY
by The Editorial Team
January 31, 2024
in Smart
Credit: Shutterstock
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According to United Nations Conference on Trade and Development (UNCTAD),
success stories from countries like Jamaica, Vanuatu, Rwanda, and Timor-Leste,
showcase the diverse benefits, including streamlined processes, cost savings,
and environmental sustainability, achieved through the adoption of electronic
single windows.
According to the UNCTAD, Jamaica has experienced a remarkable improvement in its
trade facilitation and paperless trade, with its rating soaring from 50.5% in
2017 to an impressive 79.6% in 2023. This significant leap is attributed to the
successful implementation of a national electronic single window, a
transformative initiative supported by UNCTAD.
The electronic single window, introduced in 2020, revolutionized Jamaica’s trade
processes by simplifying, standardizing, and automating the exchange of
regulatory information and documents between traders and government agencies.
This strategic move resulted in a notable reduction in the approval time for
import and export permits, from three days to just 24 hours. The streamlined
processes not only significantly cut costs related to storage and demurrage but
also facilitated a 29% increase in imports and a 28% increase in exports in 2022
compared to the previous year.
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The success of Jamaica’s electronic single window serves as a compelling
example, demonstrating how this tradetech innovation can improve ease of doing
business, boost trade volumes, and contribute to economic growth, UNCTAD notes.
Why implement a single window for trade?
The Single Window concept is widely recognised by the UN, WCO, and International
Financial Institutions as a highly effective trade facilitation instrument. This
is primarily due to the very significant benefits that have resulted from Single
Window implementations worldwide. According to UNCTAD, these benefits include:
* Reduction in the time and cost of complying with cross border regulatory
processes
* Simplification of regulatory procedures
* Reduction in (or elimination of) paperwork and the need to travel to the
various PGAs
* Increased predictability and transparency
* Automation of regulatory processes in line with other business processes
* Electronic payment facilities
* Online, real-time monitoring of consignment status
* Reduction in cost
* Enhanced efficiency of regulatory processes
* Elimination of duplicated processes between agencies
* Higher compliance levels with government regulations
* Enhanced traceability and statistics
* More accurate and often increased revenue yield for customs
* Improved government services (and the perception thereof) • Greater economic
competitiveness
* Increased transparency
* Improvement in world rankings for business competitiveness and efficiency
(e.g., World Bank Trading Across Borders and Logistics Performance Index)
> An electronic single window for trade is one of the most effective measures to
> enhance trade facilitation in a country. Its potential impact is underscored
> by its inclusion as an obligation in the WTO Trade Facilitation Agreement
… added Shamika N. Sirimanne, UNCTAD’s technology and logistics director
Furthermore, UNCTAD has published a report, “Roadmap for building a trade single
window,” which provides a blueprint for nations to design and implement similar
electronic single window systems tailored to their specific needs.
DOWNLOAD THE unctad REPORT HERE
Tags: digitalizationmaritime tradereportsUNCTAD
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