Baghdad and Erbil agree on unified digital customs system across Iraq

Baghdad (IraqiNews.com) — Baghdad and Erbil have agreed to fully adopt the digital ASYCUDA customs system across border crossings, with non-oil border earnings shared equally by the federal and Kurdistan regional governments. The deal is a significant step toward standardizing customs processes across Iraq and addressing long-standing disagreements over border revenues and claimed import quantities. ASYCUDA, designed by the United Nations Conference on Trade and Development (UNCTAD), digitizes customs declarations, payments, and clearing processes, allowing authorities to better monitor products entering the nation and the income they earn. Linking customs operations to Iraq’s banking and electronic payment systems may help limit the potential for underreporting, revenue leakage, and corruption at border crossings. The deal comes as Iraq’s Finance Ministry and Central Bank work to digitize customs, payments, and government financial data in collaboration with UNCTAD. A combined computerized customs system for Baghdad and Erbil might give more accurate revenue data while resolving one of the two governments’ ongoing financial issues. The change is also significant for Iraq’s overall economy. More open and uniform customs processes might facilitate cross-border commerce, boost governmental revenues, and enhance the business climate as Iraq pursues more foreign investment and closer integration with international markets. The post Baghdad and Erbil agree on unified digital customs system across Iraq appeared first on Iraqi News.