This is an important achievement for the International Chamber of Commerce (ICC) as Bosnia and Herzegovina featured among the 10 priority target countries identified by the network of organizations affiliated with the ATA Carnet international guarantee chain.
Bosnia and Herzegovina is an important transit country in the Balkan region, where Serbia, Croatia and Montenegro already operate this System.
“Bosnia and Herzegovina has been a missing linking in an important chain for the temporary import and export of goods,” said Peter Bishop, Chair of the ICC World Chambers Federation World ATA Carnet Council (WATAC). “Transporting goods will now be much easier for ATA Carnet users going through the Balkans.”
The Foreign Trade Chamber of Bosnia and Herzegovina will administer ATA Carnets, which are international customs documents that allow for the duty and tax-free temporary import and export of goods for up to one year.
ATA Carnets are particularly useful for companies bringing samples to customers, exhibiting at trade fairs or transporting equipment. They improve trade opportunities by both reducing customs procedures, and significantly minimizing costs.
WATAC is the ICC working body responsible for administering the international guarantee chain for ATA Carnets, which function much like passports for goods. The chain includes chambers and business organizations that have been appointed by their national customs authorities to issue and guarantee Carnets.
Prior to Bosnia and Herzegovina, the United Arab Emirates will join the ATA Carnet system on 1 April 2011. More than 150,000 Carnets are issued every year worldwide, for goods with a total value of over US$17 billion. Carnets cover all goods traded internationally, with the exception of perishable items.
Mexico is expected to join the ATA system soon.