On October 1, 2022, Ukraine joined the Convention on Common Transit (“customs visa-free”) and the possibility of international movement of goods with 35 other participating countries under one transit document using the common electronic system The New Computerized Transit System (NCTS) was opened for business operates in the European Union and other countries. Ukraine became a country where honest business began to enjoy all the advantages of NCTS during foreign economic activity under equal competitive conditions with partner countries.
“NCTS is an IT product that makes it possible to establish an exchange of information on the stages of customs clearance of goods using electronic messages in real time and to increase the efficiency of using the risk analysis system.”
First of all, through the NCTS system, Ukrainian companies will be able to use a single declaration for the movement of goods between participating states according to the principle of “one vehicle – one declaration – one guarantee” (with EU countries, as well as with Great Britain, Turkey, Serbia, North Macedonia, Iceland , Norway, Liechtenstein and Switzerland).
As part of the introduction of the new legislation, the Customs Platform: Ukraine-EU 2022 forum was held on October 5, dedicated to the launch of the “customs visa waiver”, which brought together representatives of the legislative and executive authorities, business and business communities. The guests of the event representing the business community were the National Association of Insurers of Ukraine, the American Chamber of Commerce in Ukraine, the European Business Association, the Chamber of Commerce and Industry of Ukraine and the Independent Association of Banks of Ukraine.
During the event, the Minister of Finance of Ukraine, Serhiy Marchenko, emphasized that “customs visa-free” is an impetus for the provision of financial services, providing access to clients in 36 countries of the world for the provision of financial guarantees. Insurance companies can join the regime of joint customs transit, having received, in accordance with the law, the status of a guarantor, which will allow to issue a financial guarantee to Ukrainian exporters, which is mandatory for all groups of goods.
