The FINANCIAL — The ATA Carnet System is set to expand to 77 countries on 1 April 2017, when Kazakhstan officially joins the international system.
The Chamber of International Commerce of Kazakhstan will become the 76th guaranteeing organization member of the ICC World Chambers Federation (WCF) ATA international guarantee chain.
Situated in Central Asia and Eastern Europe, the Republic of Kazakhstan ranks as the ninth largest country in the world and is the world´s largest landlocked country. It has long been identified as a priority target countries by the network of organizations already affiliated with the ATA guarantee chain. Kazakhstan’s entry into the ATA chain will significantly facilitate trade relations between Kazakhstan businesses and their foreign partners.
Ruedi Bolliger Chair of the ICC WCF World ATA Carnet Council (WATAC) said: “The implementation of the ATA system shows the commitment of Kazakhstan to promoting economic growth and trade facilitation. Throughout the ATA world, there is a sense of achievement in having completed this first step in opening new opportunities for business. We are very much looking forward to Carnet holders, from both Kazakhstan as well as the existing ATA world, successfully conducting their business missions thanks to the smooth processing of ATA carnet formalities at all national borders.”
The ATA Carnet is an international customs document that allows for the duty-free and tax-free temporary import of goods for up to one year. Carnets are particularly useful for businesses importing, temporarily, professional equipment for projects and events, providing samples to customers or exhibiting at trade fairs. They improve opportunities for businesses by reducing customs procedures and minimizing heavy deposits, according to ICC.
WATAC is the ICC working body responsible for administering the international guarantee chain for ATA Carnets. The chain includes chambers and business organizations that have been appointed by their national customs authorities to issue and guarantee Carnets.
Prior to Kazakhstan, Brazil joined the ATA Carnet system on 28 June 2016 after Indonesia who joined on 15 May 2015. More than 180,000 Carnets are issued every year worldwide, for goods with a total value of over US$21 billion. Carnets cover all goods traded internationally, with the exception of perishable items.
Georgia is expected to join the ATA system in the near future.