Global reforms needed for speedier Customs clearances: DP World's Sulayem

There is an urgent need to reform the Customs clearance framework around the world to better goods movement according to Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, at DP World.

Speaking at the B20 Summit India 2023, organised in collaboration of the Confederation of Indian Industry (CII), he said that coordination between the Customs agencies of any two countries is even better than a free trade agreement (FTA) among them.

"It is important to streamline global clearances to facilitate the seamless movement of goods around the world," Sulayem, who is also the Chairman of the Ports, Customs & Free Zone Corporation of the United Arab Emirates (UAE), told ET.


According to him, more countries are signing agreements to fast-track customs clearances through the Authorised Economic Operator program of the World Customs Organisation. This qualifies certain companies in both countries for fast-track clearances. The UAE has signed such an agreement with India, as well as Korea.

"We would encourage more such agreements between countries to be signed, because if customs in various countries can co-ordinate with one another then global trade will be a lot more efficient," he added.

Commenting on India's aim to increase local production, Sulayem voiced support for the national priorities around energy-efficient infrastructure. "These will support India’s ambitions to become a global manufacturing and export hub," he said.