The Maldives has joined Bangladesh, Bhutan and Nepal in signing a regional agreement to exchange cargo information before vessels arrive at their destinations, a move expected to shorten customs clearance times and reduce costs for businesses involved in cross-border trade.
The agreement was signed during the 14th Meeting of the South Asia Subregional Economic Cooperation (SASEC) Customs Subgroup, hosted this year by the Maldives Customs Service from August 19 to 20.
Under the arrangement, customs authorities in the four participating countries will establish a system to exchange information on import and export shipments with the destination country’s customs authority before the vessel carrying the cargo reaches port.
The Maldives Customs Service said having access to shipment information in advance would allow customs authorities to begin necessary assessments earlier, helping goods move through borders more efficiently once they arrive.
Commissioner General of Customs Fathimath Dhiyana signed the agreement on behalf of the Maldives.
The signing ceremony was attended by Minister of Homeland Security and Technology Ali Ihusaan and Dr. Yurendra Basnet, Principal Regional Cooperation Specialist for South Asia at the Asian Development Bank (ADB).
Customs said the initiative is expected to strengthen coordination between participating countries while improving both customs clearance and border enforcement. Advance information can also help authorities identify potential risks before cargo reaches the destination, allowing legitimate shipments to be processed more efficiently.
For businesses, the arrangement is expected to reduce delays at borders and lower expenses associated with transporting and clearing cargo. Customs also expects the system to improve supply chain security and facilitate greater trade between participating countries.
The agreement forms part of wider efforts under SASEC to simplify cross-border trade and improve connectivity between South Asian economies.
SASEC brings together countries in South Asia to pursue greater economic cooperation in areas including trade facilitation, transport, energy and regional connectivity, with the Asian Development Bank supporting the programme.
For an import-dependent economy such as the Maldives, improvements in cargo processing and regional trade procedures can be particularly significant, as delays and additional logistics expenses can ultimately contribute to the cost of bringing goods into the country.
The latest agreement is expected to create a more coordinated customs process by allowing authorities to receive and assess relevant cargo information before shipments arrive, rather than beginning the entire clearance process only after goods reach port.
