3rd Peer to Peer Activity for the Caribbean Trade Logistics Project

vlcsnap-2014-05-15-18h17m54s160The International Finance Corporation (IFC) has launched a regional workshop for the 3rd and final Peer to Peer Activity for the Caribbean Trade Logistics Project.

The workshop was launched in Dominica on Thursday May 15th 2014, a partnership between IFC Investment Climate Department, the Australian Ministry of Foreign Affairs and the Department of Foreign Affairs, Trade and Development in Canada.

The two day activity will focus on restructuring border clearance processes, aimed at facilitating trade and promoting regional integration in OECS countries.

From July, Dominica, St. Lucia and Grenada will install a new software system, designed by IFC to connect customs administrations to border control agencies that will allow for a more seamless approval of import declarations.

It will replace a paper based system of import clearance and is expected to reduce the number of days taken to obtain import approvals from Bureaus of Standards by two-thirds.

Dr. Steve John, Director of the Bureau of Standards in Dominica says the Government has already taken steps to facilitate trade on the island.

Since 2000 the IFC has committed approximately $2.1 billion to the Caribbean.

© 2012 SAT Telecommunications Ltd.

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