Two Years of NCTS Implementation: Ukrainian Business on the Way to Simplifying Customs Procedures

Two years have passed since Ukraine joined the Convention on a Common Transit Procedure. During this time, Ukrainian exporters have been actively using NCTS benefits allowing them to simplify customs procedures and ensure more efficient trade. The State Customs Service reported that Ukraine was one of the first countries to successfully switch to the new version of the system - NCTS Phase 5, which laid the foundation for further changes in the customs sector.

According to the State Customs Service, about 120,000 customs declarations have been processed in the NCTS system to date. INGO, which is the official guarantor in the customs operations system, has issued 85 general and over 5,500 individual guarantees over the past two years, accounting for 62% and 54% of declarations respectively. INGO's guarantee is used in 71% of T1 customs declarations issued by Ukrainian companies for both export and import, which is about 85 thousand declarations. Currently, almost 100 Ukrainian companies are INGO's clients, which indicates an active demand for these services.

Sergiy Sydorchuk, Deputy Head of Corporate Insurance at INGO, believes that the system successfully implemented by the State Customs Service in customs regulation contributes to Ukraine's integration into the European market and opens up new business opportunities, especially in the context of European customs control standards.