The new Code represents a significant step in facilitating the automated processing of trade data. The EEU says it will be “fully based on electronic document circulation in customs matters: electronic declaration, automated registration of a customs declaration, automatic release of goods, and application of an one-stop shop principle.”
This cooperative step in customs modernization has wide-ranging benefits. Advancements in automation and harmonized procedures across an economic region are vital to competing with economic or customs “blocks” like the European Union, North America, and East Asia in the globalized 21st century economy. Simplifications for the trade industry and reduced filing of separate documents means more efficient trade and ultimately greater economic stimulus.
The original article can be found at the National Legal Internet Portal of the Republic of Belarus
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