THE Reserve Bank of Zimbabwe (RBZ) says plans to improve export procedures and ease of doing business through integration of automated system for customs data (Asycuda) and computerised export payment exchange control system (Cepecs) are at an advanced stage.
Source: RBZ to improve export procedures – NewsDay Zimbabwe July 13, 2016
BY MTHANDAZO NYONI
Asycuda is a system designed to help the country automate customs processes on the importation/exportation of goods and compile accurate trade statistics.
Implementation of the system is largely expected to speed up clearance procedures at the country’s border posts.
“As part of improving export facilitation, and contribute to the ease of doing business, the Reserve Bank and Zimra are at an advanced stage of integrating Cepecs and Asycuda World systems in order to streamline some of the activities in raising CD1 forms and bills of entry (export),” RBZ exchange control deputy director, Tayengwa Chitauro said at ZimTrade’s export awareness seminar in Bulawayo recently.
Chitauro said Cepecs and Asycuda were being integrated through an automated systems data interchange process.
“The integration of the two systems means that once a CD1 form is raised in the Cepecs, the bill of entry (export) is automatically generated in the Asycuda World, thereby reducing time on obtaining the two most important documents required to export,” he said.
Chitauro revealed that the total number of export applications processed, as at July 6, were 9 773 out of 9 852.
Chitauro said other measures to facilitate exports, the RBZ has started with major exporters, whose annual export revenue was $1 million and above, granting them direct access rights to the Cepecs system, and raising CD1 forms from their own premises.
“The form CD3 (for cross-border transport operators), shall be computerised starting from September 2016. They also shall be granted access rights to the Cepecs system and raise the requisite forms from their own premises,” he said
“The Reserve Bank has put in place measures to ensure that requests for forms CD1 by exporters are processed by banks within 24 hours,” he said.
Chitauro said RBZ has established a $200 million foreign exchange and export incentive facility, which is supported by the African Export-Import Bank.
The facility is meant to cushion on the high demand for foreign exchange and to provide an export incentive scheme of up to 5%, on all foreign exchange receipts, including tobacco and gold sale proceeds.
This incentive is awarded to all exporters of goods and services to address the challenge of low productivity and promote more exports.
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