In an effort to enhance collaboration on customs issues and promote more efficient international trade, the World Trade Organization (WTO) and the World Customs Organization (WCO) have signed a memorandum of understanding strengthening their strategic relationship. The announcement was made on Tuesday (21.01.2025), within the framework of the World Economic Forum in Davos, Switzerland.
According to the joint statement, the agreement seeks to identify opportunities for cooperation, coordinate participation in international forums and work together on the implementation of standards, as well as the provision of technical assistance to support members of both organizations.
The memorandum was signed by Ngozi Okonjo-Iweala, Director-General of the WTO, e Ian Saunders, Secretary General of the WCO, who highlighted the relevance of this alliance in a context of increasing complexity in global trade.
Key areas of collaboration
The agreement establishes a roadmap for collaboration in priority areas such as:
- Implementation of Trade Facilitation Agreement Facility subsidies, with the aim of supporting developing countries.
- The development of the Harmonized System (HS) to ensure accurate and consistent tariff classification globally.
- The fight against illicit trade, including the protection of intellectual property rights and economic security.
Both organizations agreed to share information and coordinate efforts on the transposition of the HS, allowing for a more efficient exchange of updates made by the WCO HS Committee.
Statements from the leaders
Ngozi Okonjo-Iweala stressed the relevance of the agreement: “The increasing complexity and volume of international trade makes this MoU particularly timely. Both organizations share an interest in ensuring that their members effectively enforce customs rules, particularly in product classification, trade facilitation and the prevention of illicit trade. This agreement will strengthen our cooperation to ensure that trade contributes more effectively to global economic development and security.”
Ian Saunders, for his part, highlighted the impact of the collaboration:“This MoU brings us closer to delivering on the WCO’s annual theme: ensuring customs are a driver of efficiency, security and prosperity. By working together, policymakers and customs operators will be able to implement more effective solutions for safe and transparent trade, boosting shared prosperity.”
Commitment to sustainable development
The alliance between the WTO, as a global authority on trade rules, and the WCO, a leader in customs management, represents a strategic link to ensure a more fluid, predictable and free flow of trade, aligned with the Sustainable Development Goals (SDG).
The WCO, which brings together 186 customs administrations responsible for 98% of world trade, plays a crucial role in developing international standards, collecting fair revenues and facilitating legitimate trade, contributing significantly to the protection of society and global economic growth.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
