M4.1 WCO The World Customs Organization

Question 1

What does the WCO represent?

Answer 1

WCO represents 185 Customs administrations acros the globe that collectively process 98% of world trade

Question 1

When was the WCO established?

Answer 1

1952 as the Customs Co-operations Council (CCC)

Question 2

What is the HS?

Answer 2

the HS Harmonized System is a multi-level numerical system routed by a six digit nomenclature. The six digit code is the asme in all countries that use the HS

Question 3

How is the HS used?

Answer 3

1) basis for trade negotiations
2) collecting international trade statistics
3) quota controls
4) rules of origin
5) statistical and economical research and analysis

Question 4

Who created SAFE Framework and why?

Answer 4

The WCO created the SAFE Framework to ensure supply chain security

Question 5

What are the five core elements of the SAFE Framework?

Answer 5

1) Harmonized advance electronic cargo information.
2) consistant risk management approach to security threats
3) at reasonable request and comparable risk target, customs sending admin perform an outbound inspection of high-risk containers and cargo.
4) defined benefits to businesses tht meet minimal supply chain security standards and best practices
5) promosted close cooperation with other Gov Agencies representing different REG areas to keep societies safe and secure while facilitating the movemememnt of goods

Question 6

What are the core elements of the SAFE Framework?

Answer 6

1) Customs network arrangements
2) customs to business partnerships
3) customs to other government agencies cooperations

Question 7

What has the Customs to Business partnerships pillar led to?

Answer 7

the customs to business partnership pillar has lead to the development of AEO Authorized Economic Operator

Question 8

What is the AEO?

Answer 8

AEO Authorized Economic Operator is an international system for identifying private businesses that offer a high degree of security guarantees in the supply chain and would recieve tangible benefits for expidedted processing and measures.

Question 9

What partners are included in AEO?

Answer 9

Manufactures
Importers
Exporters
May Include:
Customs Brokers
Carriers
Freight Forwarders
intermediaries,
Ports and Airports
terminal operators
integrated operators
warehouses
distributors