THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
The World Customs Organisation Time Release Study (TRS) on Zambia customs procedures published in August 2021 has reported that the intensified risk management approach and pre-clearance of goods before arrival at the border had contributed to the reduction of time and costs for businesses that export and import. The report stated that in addition to examining the time for clearance and release at border crossing points, the Time Release Study Plus also analysed the time taken for traders to apply for and receive the licenses, certificates or permits (LCPOs) required for import, export and transit.
The Zambia ‘Time Release Study Plus’ 2021 report was conducted by the International Finance Corporation (IFC) on behalf of the Zambia National Trade Facilitation Committee (NTFC) hosted at the Ministry of Commerce, Trade and Industry and will provide the basis for the implementation of further trade facilitation reforms in the country that will be an important part of Zambia’s continued economic development.
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