BULLDOG75: CBI LAUNCHES ELECTRONIC NETWORK CONNECTIVITY; THE SINGLE WINDOW SYSTEM: APPEARS THE CBI IS IN THE WTO SINGLE WINDOW SYSTEM WHICH IS NECESSARY FOR TRADE FACILITATION!
IT NOW APPEARS THAT THE CBI IS AT THE FRONT DOOR OF ELCTRONIC LINKING OF DAILY INFO FOR THE AUCTIONING & TRADING OF FOREIGN CURRENCY BETWEEN BANKING INSTITUTIONS. THIS IS THE OPENING OF THE 'ELECTRONIC WINDOW SYSTEM' WHICH IS AN ABSOLUTE NECCESITY "TO TRADE INTERNATIONALLY". FOR A COUNTRY TO HAVE AN INTERNATIONAL RECOGNIZED TRADEABLE CURRENCY ONE HAS TO PARTICIPATE WITH THE WTO, IMF, BIS. IT APPEARS THIS EVENT IS TIMELY FUNCTIONING AND FULLY APPROVED BY THE PTB, POWERS THAT BE.
CBI launches electronic network connectivity information Auction:
BAGHDAD / obelisk: CBI announced, Thursday, on the implementation of the steps the electronic linking of information daily auction of foreign currency between institutions Bank and the Ministry of Finance and the General Authority for taxes.
The governor of the Bank and Abdul Basit Turki Agency for “obelisk”, “The World Bank approved the plan in order to ensure the highest degree of coordination between the concerned authorities for the accuracy of the information that is presented for the purposes of the balance of payments.” Turki added that “implementation will contribute to make the required database between these institutions are available, moment by moment, thus ensuring transparency and fairness in dealing,” adding that “the implementation of the plan will begin."
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Full Description: The single-window system is a trade facilitation idea. As such, the implementation of a single window system enables international (cross-border) traders to submit regulatory documents at a single location and/or single entity. Such documents are typically customs declarations, applications for import/export permits, and other supporting documents such as certificates of origin and trading
The main value proposition for having a single window for a country or economy is to increase the efficiency through time and cost savings for traders in their dealings with government authorities for obtaining the relevant clearance and permit(s) for moving cargoes across national or economic borders. In a traditional "pre-single-window" environment, traders may have had to contend with visits and dealings with multiple government agencies in multiple locations to obtain the necessary papers, permits, and clearances to complete their import or export processes.
There is no single definitive viewpoint of what a single window system should be. A common definition of the term "single window" is:
"A facility that allows parties involved in trade and transport to lodge standardized information and documents with a single entry point to fulfill all import, export, and transit-related regulatory requirements. If information is electronic then individual data elements should only be submitted once."
The concept is recognized and promoted by several world organizations that are concerned with trade facilitation. Among these are the WTO, World Banks, BIS, United Nations Economic Commission for Europe (UNECE) and its Center for Trade Facilitation and Electronic Business (UN/CEFACT), World Customs Organization (WCO), SITPRO Limited of the United Kingdom and the Association of Southeast Asian Nations (ASEAN).
The diagram below illustrates an example of an implementation of a Single Window system within a country or economy.