Mumbai Dec 3: Finance Minister @arunjaitley says the global economy needs to cut down trade barriers. Addressing 80th Session of the Policy Commission of World Customs Organisation #WCO in Mumbai through video conferencing @arunjaitley praised the role of WCO in the global economy.
The World Customs Organization (WCO), established in 1952 as the Customs Co-operation Council (CCC) is an independent intergovernmental body whose mission is to enhance the effectiveness and efficiency of Customs administrations. WCO represents 182 Customs administrations across the globe that collectively process approximately 98% of world trade.
As a forum for dialogue and exchange of experiences between national Customs delegates, the WCO offers its Members a range of Conventions and other international instruments, as well as technical assistance and training services provided either directly by the Secretariat, or with its participation.
Besides the vital role played by the WCO in stimulating the growth of legitimate international trade, its efforts to combat fraudulent activities are also recognized internationally.