Companies in Qatar could expect to generate “very big savings” in operational costs once the ATA Carnet takes effect in the country next month, Qatar Chamber Legal Affairs Department director Abdul Aziz al-Kuwari said.
Aside from cost, the ATA Carnet will help companies in Qatar save time in terms of streamlining procedures when exporting and re-exporting goods, al-Kuwari told Gulf Times on the sidelines of Qatar Chamber’s first workshop on the ATA Carnet yesterday.
“A lot of countries require customs duties, certificates, and other costs. But with the ATA Carnet, companies will only pay for fees of the carnet and the guarantee, which will be returned once the companies return to Qatar, so they get very big savings on money and time,” al-Kuwari pointed out.
The ATA Carnet is an international customs document that allows the duty-free and tax-free temporary import and export of goods for up to one year. The system is applied to import-export goods that will return to the country of origin within the period which is approved by customs authorities.
Al-Kuwari also stressed that the ATA Carnet will help make Qatar attractive to foreign investors, and “will contribute to activating the tourism sector, conferences, and exhibition being held in the country.”
“Countries travelling abroad for exhibitions and events always look for the ATA Carnet for the export and re-export of the goods that they are using. There are 77 countries, including Qatar, that use the ATA Carnet.
“This makes coming to Qatar very easy for many companies abroad, thus the ATA Carnet plays an important role in helping transform the country into a prime investment destination. It is also a huge step, especially in the run-up to the 2022 FIFA World Cup games, and in meeting the objectives of the Qatar National Vision 2030,” he said.
The workshop, held in co-operation with the International Chamber of Commerce (ICC) Qatar and the General Authority of Customs, is the first of a series of weekly workshops to be held at the chamber every Tuesday this month.
But al-Kuwari said other workshops could be held after the August 1 implementation of the system “if needed” and depending on the companies that are applying for the ATA Carnet.
The most prominent features of the ATA Carnet is that it enables marketing representatives, exhibition participants, and businessmen to make advance customs arrangements at a predetermined cost, visit several countries consecutively, and use the ATA Carnet for several trips during its one-year validity.
The system facilitates and simplifies customs procedures across borders for exporters and importers using one document to complete all customs procedures in the 77 countries that apply the ATA Carnet system.
It includes all types of goods and equipment, including commercial samples, professional equipment, and goods for fairs, exhibitions, and entertainment events on condition that they will be returned to the country of origin within the period which is approved by customs authorities.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Global economy sliding towards weakest growth in decade: OECD
Asia’s global clout growing despite trade wars, says McKinsey
Banks don’t want Draghi free money as ECB loans fall flat
US labour market remains strong; manufacturing still weak
Gold back above $1,500 on growth woes
Indian equities fall to lowest since March
Europe markets gain on Fed decision to cut rates
Bonds’ biggest threat is Germany beginning to splash the cash
China’s growth could slip below 6%, warn analysts