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IFC Helps OECS Bureaus of Standards Improve and Simplify Trade Logistics Procedures


In Washington DC:
Vanessa Bauza, IFC
Phone: (202) 458-1603
E-mail: VBauza@ifc.org

In the Commonwealth of Dominica:
Lenora Durand, The Bureau of Standards
Phone: +1767 448-1685
Email: ldurand@dominicastandards.org

Roseau, Commonwealth of Dominica, May 7, 2013 – IFC, a member of the World Bank Group, in partnership with the Australian Agency for International Development and the Canadian International Development Agency, is hosting a three day training session for the Bureaus of Standards of several countries belonging to the Organization of Eastern Caribbean States, with the aim of simplifying and harmonizing their trade procedures and promoting regional economic integration.

The training will introduce the harmonized system of classification of goods, which allows different institutions to share and process information more easily, thereby improving trade logistics.

“IFC is an important partner in our efforts to modernize and automate our processes so that we offer a better service to the private sector in Dominica,” said Dr. Steve John, Director of the Dominica Bureau of Standards. “The training session is a stepping stone that will help us communicate better with customs officials, other government institutions in Dominica, and Bureaus of Standards in the Caribbean.”

The training session is part of an IFC-implemented initiative to automate the Bureau of Standards’ clearance for imports. Participants from Antigua, Grenada, St. Kitts and St. Lucia will join officers from Dominica in the training session.

“IFC is committed to making trade easier in the Caribbean,” said Lazar Ristic, IFC Trade Logistics Specialist. “With this initiative we seek to help government agencies connect more efficiently, thus making import clearance easier and reducing logistics costs that are still a challenge for many businesses in the region.”

The Investment Climate Advisory Services of the World Bank Group helps governments implement reforms to improve their business environment, and encourage and retain investment, thus fostering competitive markets, growth and job creation. The global trade logistics portfolio managed by the Investment Climate teams has grown over the last four years to cover more than 40 countries around the world. IFC, in partnership with AusAID and CIDA, is supporting the English-speaking Caribbean to promote trade logistics reforms.

About IFC

IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.


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