Carnet to benefit exporters

System offers common document, simplifies customs’ formalities:

Ramani Kangaraarachchi

The ATA Carnet System contributes to the national economy by facilitating and promoting international trade, International Chamber of Commerce (ICC) CEO, Gamini Peiris said. Speaking at a seminar on ATA Carnet System organized by the ICC at the Galle Face Hotel recently, he said ATA Carnets are powerful instruments in promoting countries as convenient investment and business centres and as attractive destinations for international trade fairs and similar business events contributing to promote in-flaws of foreign currencies from business travellers and reducing transfer of national currency abroad.

Peiris said by participating in the ATA Carnet system, countries(Governments) meet the needs of the local business and help them expand their activities worldwide. It helps local business exporters to compete with foreign traders on equal terms in the world market. Among other benefits to the national economy ATA Carnets also promote economic expansion to create jobs, increase tourism and stimulate investments and encourage and stimulate technical progress.

Referring to the benefits to the Chambers of Commerce from ATA Carnet he said it could boost Chambers’ visibility and if chambers devote the appropriate time, effort and commitment it could be a contributor to revenues.

ATA Carnet is a tangible good product to offer to the local business community which provides an opportunity for working with Governmental Departments and Customs.

Peiris said that according to Carnet Statistics, ICC Sri Lanka has issued Carnets valued at Rs 2,902,635,673 from 2000 to 2007. The number of Carnets issued has increased from a modest US $ 18 billion in 2007 to US $ 20 billion in 2008.

The number of Customs admin joining the system is also on the rise. Currently they are working with Macau, Mexico, Peru, Chile, Indonesia, Bangladesh and Vietnam.

An ATA Carnet is an international Customs Document Joint product of World Customs Organization and World Chambers Federation to promote and facilitate international trade. Over 2,000,000 Carnets are issued annually globally amounting to over US $ 12 billion in goods being shipped guaranteeing Associations in each member country.

The Carnet system is accepted as entry document and it simplifies Customs formalities by offering a ‘common’ document, less expensive, more flexible and serves as registration of Sri Lanka goods.