Traders to benefit from Abu Dhabi Gold Card - Emirates24|7

Traders to benefit from Abu Dhabi Gold Card

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Traders have welcomed the launch of a Gold Card by Abu Dhabi Customs as a step that could boost trade and the use of Abu Dhabi port by streamlining and modernising procedures.

 

The new initiative provides importers and exporters with a range of benefits including faster and more convenient tracking and enhanced security of their shipments while also allowing for a 90-day rolling credit period for companies enrolled in the programme.

 

George Varghese, general manager of the Al Ostath Trading Establishment, told Emirates Business that the initiative could go a long way in easing the transactions at the port.

 

“The facility already exists at the Dubai port, in a different way, where we have to pay a refundable amount as a guarantee to receive the rolling credit. Abu Dhabi Customs’ initiative will definitely attract more traders to use the port facilities,” said Varghese, who has paid Dh1.5 million as a refundable deposit to Dubai Customs.

 

Hussain Abdulla, of the General Trading Establishment, also welcomed the announcement by Abu Dhabi Customs and urged officials to improve the ground handling facilities at the port. Abu Dhabi’s new initiative was announced at a seminar hosted by the Abu Dhabi Chamber of Commerce and Industry (ADCCI) where speakers from the Abu Dhabi Customs Department, Abu Dhabi Finance Department and the ADCCI explained the benefits of participating in the programme.

 

Companies enrolled into the Gold Card programme will be able to take advantage of a range of benefits such as electronic submission of customs clearance documentation, epayment facilities for consignment and administration fees, electronic reconciliation and refunds, access to a 90-day rolling-credit account with customs, on-line issuance of consignment clearance details and the ability to maintain transaction records and archive key documents pertaining to their exports and imports.

 

The programme is part of a broader modernisation initiative intended to introduce new and convenient processes and procedures for the benefit of Abu Dhabi companies engaged in the import and export business.

 

It aims to facilitate trade, enhance security and increase revenue from customs duties by better tracking and easing procedures.

 

It has also been endorsed by the Abu Dhabi Executive Council.

 

Explaining the concept behind the programme, Saeed Al Muhairi, Deputy-Director Abu Dhabi Customs Administration, said: “This new facility is a privileged service to reward compliant and well-run businesses in Abu Dhabi with a fast, effective and efficient customs clearance service.

 

“Companies which adhere to the key principles of the agreement will be granted an automatic pre-clearance service to process their customs transactions, in accordance with World Customs Organisation standards.”

 
 
 
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