Revised Kyoto Convention
By Guy José Bendaña-Guerrero & Asociados
The General Assembly of Nicaragua approved the country's adhesion to the International Convention on the simplification and harmonization of Customs procedures (as amended), known as the Revised Kyoto Convention.
The World Customs Organization’s Revised Kyoto Convention (RKC) brings together all WCO tools to bear on Customs modernization in support of the World Trade Organization’s Trade Facilitation Agreement (TFA) for the simplification and harmonization of Customs processes. The Convention elaborates several key governing principles as the blueprint for modern and efficient Customs procedures in the 21st century:
-transparency and predictability of Customs actions;
-standardization and simplification of the goods declaration and supporting documents;
-simplified procedures for authorized persons;
-maximum use of information technology;
-minimum necessary Customs control to ensure compliance with regulations;
-use of risk management and audit based controls;
-coordinated interventions with other border agencies;
-partnership with the trade.
The revised Kyoto Convention promotes trade facilitation and effective controls through its legal provisions that detail the application of simple yet efficient procedures. The revised Convention also contains new and obligatory rules for its application which all Contracting Parties must accept without reservation.
The revised Kyoto Convention entered into force on February 3, 2006.