Namibia is hosting a workshop aimed at raising awareness and preparing for the piloting, domestication and implementation of the Regional Customs Transit Guarantee (RCTG) Scheme, which introduces a single customs transit bond recognized and applicable in all Southern African Development Community (SADC) member states.
Speaking at the opening of the workshop on Monday, Sam Shivute, commissioner of the Namibia Revenue Agency, said the scheme will streamline customs procedures, facilitate trade and ultimately boost the economies of SADC countries.
“The SADC RCTG Scheme initiative comes at a time when our country and the SADC regional economic bloc face numerous economic and financial challenges. The seamless movement of goods across our borders will catalyze to unlock the bottlenecks that exist throughout the supply chain, largely due to some customs rules and processes currently in use,” Shivute said.
According to Shivute, the RCTG Scheme will address non-tariff barriers and enhance the legitimate movement of goods, services and people across borders.
Namibia, like its SADC peers, often serves as a transit country, which has raised concerns about the potential diversion of in-transit goods, Shivute said, adding that to address this issue, the country has historically imposed provisional taxation, including duties and taxes, as well as bond guarantees.
The introduction of a single bond will offer numerous advantages, including minimizing customs controls, reducing delays for goods passing through Namibia, expediting regional trade, and streamlining border crossing procedures, he said.
Namibia’s strategic location in the region positions it as a potential gateway to overseas markets and countries through its ports, he added.
Source : English News
