Ukraine adopts latest version of NCTS Common Transit System in move towards efficient trade procedures

Ukraine became one of the 20 countries out of 36 participants in the Convention on the Common Transit Procedure, switching to the latest version of the NCTS common transit system.

The press service of the Ministry of Finance of Ukraine reported that.

"Among the 36 participating countries in the Convention on the Common Transit Procedure, Ukrainian businesses are among the first 20 to adopt the newest version of the NCTS Phase 5 common transit system," the message says.

The department emphasizes that Ukraine had 1.5 years less time to develop NCTS Phase 5 than other Convention countries and started this process before directly joining the Convention on October 1, 2022.

"Despite the full-scale war, the state authorities of Ukraine, thanks to the constant support of our international partners, in particular the EU Program for the Support of Public Finance Management in Ukraine (EU4PFM), since April 22 of this year, have provided the opportunity for Ukrainian businesses to work in the latest version of NCTS," the Ministry of Finance said.

^{Photo: from open sources}

According to the State Customs Service data, more than 100,000 NCTS declarations have been issued since Ukraine's accession to the "customs visa-free regime," of which 21,000 were issued in four months of using NCTS Phase 5.

For reference:

On September 27, the Cabinet of Ministers [Ukraine's government – ed.] approved resolutions allowing Ukraine to join the Conventions on the procedure of joint transit and simplifying formalities in trade in goods, that is, "customs visa-free."

As of October 1, 2022, the Convention on Common Transit Procedures (NCTS) took effect in Ukraine. This allowed goods to be transported between Ukraine and 35 other participating countries under a single transit document. The first transit declaration, operating under a "customs visa-free" system, was sent from Germany to Ukraine.

"Visa-free customs" allows for smoother and quicker transportation of goods among European countries, with less red tape at customs and reduced chances for exploitation. It also enables real-time data exchange with neighboring customs offices, which is crucial in advancing convenient and transparent customs in Ukraine.