BASSETERRE, ST. KITTS, JANUARY 6, 2011 (Customs PRO) - The Customs and Excise Department has welcomed the 2011 rankings and assessment of business regulations in economies across the globe by the International Finance Corporation (IFC) and the World Bank. The report, called Doing Business 2011, ranks St. Kitts-Nevis as number 1 in the OECS and Caricom sub-region and number 39 among 183 economies with regard to efficiencies of trading across borders.
St. Kitts-Nevis moved from a joint 4th place (OECS/Caricom) 2010 ranking (53) with Antigua-Barbuda whose global rankings slipped 10 points to 63. Current rankings also puts St. Kitts-Nevis ahead of 2010 Caricom leader, the Bahamas, whose 2011 international ranking is 45, down from 37 last year.
A three-year comparison shows that the federation’s standing has been positively influenced by the upkeep of “electronic data interchange systems” and a reduction in the number of documents needed to import and export goods have made trading across our borders significantly easier.
St. Kitts-Nevis was rated above all 2010 global averages with significant indicators of 12 days and 13 days to export and import goods, respectively. Global averages were 23.1 days and 25.8 days, respectively.
Comptroller of Customs, Mr. Rodney Harris expressed his delight with receiving the reports on these most recent international rankings. Harris said, “The department is indeed pleased to learn of the improved rankings of the Federation.”
Harris highlighted that improved efficiencies at the Customs and Excise Department were significant contributors to this recent improved ranking. He said, “With the introduction of the TRIPS (Total Revenue Integrated Processing Systems) software, the department has seen great improvements in our processing and verification of documents used to transact business.”
The Comptroller has pledged that upon this platform for performance, “the department will continue to strive in all its efforts to improve trade facilitation and to improve and maintain this ranking.”
Details of the report could be read online at doingbusiness.org.
