Philippines receives twin recognitions from WB, IFC

ASEAN Single Window-mof.gov.vn

The Philippines scored big among the economies that introduced changes in its trade practices, garnering twin recognitions from the World Bank (WB) and the International Finance Corporation (IFC).

A report co-published by the WB and the IFC cited the country for effective changes in its trade facilitation, particularly the National Single Window (NSW) system that speeds up trade and businesses.

From its 68th ranking among 183 economies surveyed, the Philippines jumped to 61st based on the indicator “trading across borders,” the 8th edition of ‘Doing Business’ Report said.

As icing to the cake, the Philippines, through the Bureau of Customs (BoC), also landed in the Top 10 list of economies that achieved significant improvement in just one year.

Elated on the report, Customs Commissioner Angelito Alvarez said the citation proved the BoC is on the right track in introducing reforms.

“There is basis for optimism that the next round of World Bank review will see the Philippine BoC in a better light given our success in finally implementing the NSW and adoption of standards of best practice in the management of complex international trade affairs,” Alvarez said.

Special mention was the BoC’s NSW system, which introduced electronic payment and online submission of declarations by importers.

Other countries in the Top Ten list were Peru, Grenada, Armenia, Montenegro, Nicaragua, Rwanda, Cambodia, Egypt, and Spain.

The NSW is an ambitious national government initiative that required government departments and agencies involved in the cargo clearance release to exchange data and provide the BoC with a functioning automated electronic system.

Some 30 government agencies are presently linked up with the system.

A computerized system, it automates the application of import permits by importers via the internet; the processing and approval by the agency via computers, bar code readers and blackberry phones; and the processing and release at the BoC of the imported shipment.

-mb.com.ph