Japan, ADB to support modernization of customs service

KATHMANDU, May 21:

Japan and the Asian Development Bank (ADB) joined hands to support in modernization of Nepal´s customs services.

The project will be funded by a US$ 1.5 million Capacity Development Technical Assistance (CDTA) of Japan Fund for Poverty Reduction (JFPR) to be administered by ADB, an ADB statement said on Wednesday.

Announcing the initiative on Wednesday, Madhu Kumar Marasini, joint secretary at the Ministry of Finance (MoF), said that modernization of customs services would reduce the time and cost of trading and support the country´s efforts to tap the benefits of integration with neighboring and outer world economies. “The CDTA will provide full support to the ongoing trade facilitation program in Nepal to ensure that the key legal, regulatory and institutional, and capacity requirements for customs modernization and reforms take place by 2015, making the customs services in Nepal at par with international standards,” the statement quoted Marasini as saying at the program.

Speaking at the same event, Kenichi Yokoyama, ADB´s Country Director for Nepal, said modernization of customs processes is a part of the South Asia Sub regional Economic Cooperation (SASEC) program facilitated by ADB.

Likewise, Surya Prasad Acharya, director general of the Department of Customs (DoC) said CDTA will be instrumental in the implementation of the SASEC Trade Facilitation Program, Automated System for Customs Data (ASYCUDA), and World and Customs Reforms and Modernization Action Plan.

The CDTA is being implemented from September 2013 to August 2015. ADB´s South Asia Regional Department is the executing agency and DOC is the implementing agency, according to the statement.

Source: Republica