Exciting news for Pohnpei’s trading community in the Federated States of Micronesia!
In a significant leap toward modernising customs management and enhancing trade facilitation, the Department of Finance and Administration, through the Customs and Tax Division (CTA), launched its new digital software.
On Wednesday 27 March 2024, the Vice President of the Federated States of Micronesia, Mr. Aren B. Palik launched the ASYCUDAWorld system in Pohnpei.
Mr. Palik highlighted the importance of ASYCUDAWorld.
“It represents a significant milestone for our trading community, offering unprecedented benefits such as reduced clearance times, improved accuracy, and enhanced transparency. This Initiative is a great example of the coming FSM digital transformation and a clear indication of our efforts to support the business community, ensuring that Pohnpei, and soon after Yap, Chuuk and Kosrae, remain competitive in the global market,” Mr. Palik stated.
Mr. Palik added the launch of the system was aligned to the Government’s vision to digitalise its services to serve the people of FSM better and efficiently.
The digital platform is a cornerstone of the United Nations Conference on Trade and Development (UNCTAD) European Union-funded Improving Pacific Island Customs and Trade (IMPACT) project implemented by the and aims to enhance regional and international trade in the Pacific by standardising and simplifying customs operations.
In congratulating the Government of FSM, the United Nations Resident Coordinator for Micronesia, Mr. Jaap van Hierden highlighted the importance of digitalisation in customs and trade to leverage on trade in international market.
Mr. Hierden said, SIDS including FSM covered large distances between markets associated with high trade costs.
“These costs were among the highest in the world and limit FSM’s participation in regional and global trade. The import to export ratio is not favourable for Pacific Island countries and they experience record trade deficits with the rest of the world. Also trade facilitation and standards in the Pacific remain below the Asia-Pacific average. In today’s world of rapid globalisation, efficiency through digitalisation in customs and trade is imperative for countries like SID States to benchmark against the global standards, and leverage on trade in international market,” Mr. Hierden further added.
ASYCUDAWorld will enable the CTA to apply streamlined customs legislation at all levels, facilitate collection of customs duties, increase government revenue, and eliminate any fraud and corruption.
The Deputy Head of the European Union (EU) Delegation for the Pacific, Dr. Erja Askola, extended her congratulations to the Government of FSM and highlighted the importance of modernising customs procedures in the Pacific Island Countries, including digital systems.
“Trade is part of this bigger picture, and our common objective is to stimulate trade and investments in the Pacific region. For this, we need efficient customs procedures to reduce cumbersome paperwork, and to save both time and money at the border,” Dr. Askola said.
What is ASYCUDAWorld?
ASYCUDAWorld is an efficient digital platform that supports the enhancement of customs operational capacity in line with international standards and best practices. The system brings revolution to the country’s customs operations by automates processes including manifest management, customs declarations, accounting transactions, and suspense procedures.
The implementation of the ASYCUDAWorld system aligns to the global trend as FSM becomes 14th Pacific Island Country and among the 103 countries and territories across the globe to implement the system. The system offers improvement in customs revenue, reliable trade statistics, and reduced times and costs associated with customs clearance processes.
Benefits for Pohnpei’s Businesses:
- Faster Trade: Say goodbye to lengthy procedures! ASYCUDAWorld will significantly reduce clearance times, allowing businesses to import and export goods quickly.
- Improved Accuracy: The automated system minimises errors, ensuring smoother transactions and less paperwork.
- Enhanced Transparency: Businesses will have access to reliable trade data, providing valuable insights for informed decision-making.
- Modernisation: ASYCUDAWorld marks a significant step towards modernising Pohnpei’s customs procedures, aligning them with international standards.
Information for the Pohnpei trading community
Getting Started with ASYCUDAWorld:
The platform is accessible online at https://fsm.asycuda.org/ , where businesses intending to import regularly will be required to complete a registration form available on the system’s web portal. To ensure a smooth transition, the old PC Trade system will remain operational for payment processing until April 26th, 2024, after which all unpaid declarations must be resubmitted in ASYCUDAWorld.
Important Dates:
- March 27th, 2024: ASYCUDAWorld goes live in Pohnpei State.
- April 26th, 2024: This is the deadline for declarations submitted using the old PC Trade system.
Ready to experience the trade revolution?
To facilitate the transition, comprehensive support, including assistance, guidance, forms, and operating procedures, is available on the ASYCUDA website portal. Customs staff will also be available at the Pohnpei CTA Office to assist importers with completing their declarations. For further information, the ASYCUDA administration team can contact 320 2826 / 320 5508 or via email at cta@dofa.gov.fm.
This initiative signifies a milestone for Pohnpei and represents a crucial step forward for the Federated States of Micronesia in the broader spectrum of regional harmonization and modernization of customs practices. The IMPACT project and the introduction of ASYCUDAWorld are set to guide in a new era of efficient, reliable, and streamlined customs management, promising substantial benefits for the trading community and the economies of the Pacific Island countries.
ASYCUDA will be launched in the Yap, Chuuk, and Kosrae States over the following two months. The system will be further enhanced later in the year with an online payments portal for the users.
#PohnpeiTrade #ASYCUDAWorld #TradeMadeEasy
